Santa Eulària to implement third consecutive rustic property tax reduction

The Santa Eulària City Council is set to approve a third consecutive reduction in the rustic IBI (property tax), lowering the rate from 0.45% to 0.40%. This measure is expected to benefit over 5,400 owners and reduce annual municipal revenue by approximately 250,000 euros. Since 2022, the cumulative reduction in revenue from these successive cuts is projected to exceed 500,000 euros annually.

The new tax rates are scheduled to take effect on January 1, 2027. Additionally, the municipality is introducing a 95% IBI discount for Limited Price Housing (VPL) that is used for regulated rental purposes, provided the property is registered in the regional VPL registry and used as a primary residence.

In other local initiatives, the council continues to offer up to 5,000 euros to encourage young professionals to return to Ibiza.