...the tax was worked out using a formula that only officials in Valencia can understand and that at no time does a valuer visit the property.

Costa Blanca News | Noticia

Several expat property owners have been hit with huge bills as the regional tax office probe into back-dated property tax hots up - as warned by CBNews two weeks ago.

One reader has informed that the regional government in Valencia via the economy, tax and occupation council has revalued the property he purchased and slapped a hefty unpaid tax bill on him.

Our reader said that he and his wife purchased a property near Ayora in 2007 after agreeing a price of 200,000 with the vendor.

The correct procedure for the purchase was followed at all times and all relevant taxes, totalling 14,000 euros were paid. At the time of purchase the property had been on the market for 18 months, given the collapse of the real estate sector.

Just over two months ago, our readers received a letter from the Valencia government stating that when the house was purchased in 2007 it was worth almost 250,000 euros and therefore they had underpaid their taxes and owed 3,300 euros plus 700 euros in accrued interest.

The couple's lawyer advised them that regional government was doing this to everybody who purchased a house less then four yearss ago. He added that the tax was worked out using a formula that only officials in Valencia can understand and that at no time does a valuer visit the property.

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