AS AN OWNER OF A PROPERTY IN SPAIN FOR MORE THAN 20 YEARS, WIL I BE EXEMPT FROM ANY CAPITAL GAINS TAX IF I SELL IT?

15 Feb AS AN OWNER OF A PROPERTY IN SPAIN FOR MORE THAN 20 YEARS, WIL I BE EXEMPT FROM ANY CAPITAL GAINS TAX IF I SELL IT?

No, you will not, I am afraid. From January 20, 2006 there is no exemption from capital gains tax for property sellers. Those long-term proprietors who bought before 1986 had privileges of reduction which reduced their tax to zero after 10 years. At the present, however, they must pay capital gains tax on the part of their profit calculated since January 20, 2006.  No matter how long you have owned your property, you will certainly have capital gains tax to declare when you sell it and have any profit.