Property Valuation for Inheritance in Marbella: How Your Inherited Home Is Valued for Tax in 2026

When you inherit a villa or an apartment in Marbella, one of the first questions is not who gets what, but what the property is worth in the eyes of the Spanish tax authorities. That figure decides how much inheritance tax each heir pays, how much municipal capital gains tax (plusvalía) is due and, years later, how much tax you will pay when you sell. This guide explains how property valuation for inheritance in Marbella works in 2026, which values apply, and when it is worth challenging them.

Why the value of an inherited property matters so much

In Spain, inheritance tax (Impuesto sobre Sucesiones y Donaciones, ISD) is paid by each heir on the value of what they receive. For a property in Marbella, the value you declare has three consequences:

• Inheritance tax today: the property value is the starting point of the taxable base for each heir.
• Plusvalía municipal: the Marbella town hall charges a tax on the increase in value of the land since the deceased acquired it.
• Capital gains tax tomorrow: when you sell, your acquisition value is, as a rule, the value resulting from the inheritance tax rules (capped at market value), plus the costs and taxes you paid. A value that is too low today can mean a higher capital gains tax later.

The four values you will hear about

How inherited property is valued for inheritance tax in 2026

1. If the property has a Catastro reference value

Since Law 11/2021 came into force, the taxable value of an inherited property is its reference value, unless the heirs declare a higher value. Most homes in Marbella already have one. You can check it on the Sede Electrónica del Catastro with the property’s cadastral reference (with a digital certificate or Cl@ve, or through your lawyer).

2. If the property has no reference value

For properties without a reference value, the taxable base is the higher of the value declared by the heirs and the market value, and the tax office can carry out its own valuation check.

3. Can the reference value be challenged?

Yes. In a judgment of 12 February 2026, the Spanish Constitutional Court confirmed that the reference value system is constitutional, but stressed that it is a rebuttable presumption: heirs can prove a different value with any type of evidence, including an expert appraisal. In practice, this is done by requesting the rectification of the self-assessment (generally within four years) or by appealing a tax assessment. The Catastro then issues a binding report. A standard bank valuation is usually not enough; a detailed report from a certified valuer, with comparables and the real condition of the property, is what carries weight.

Note that the classic “tasación pericial contradictoria” is not available against the reference value itself, so the strategy has to be planned before or right after filing.

Inheritance tax in Andalusia: why valuation still matters with the 99% relief

Andalusia is one of the most favourable regions in Spain for close family. For deaths since 2022, spouses, children and parents (groups I and II) benefit from a €1,000,000 reduction per heir and a 99% relief on the tax due. Siblings, nephews and nieces (group III) only get a €10,000 reduction, and other heirs (group IV) none, so for them the value of a Marbella property can mean a very significant tax bill.

Whether the Andalusian rules apply depends mainly on where the deceased lived. If the deceased was resident in Andalusia, the Andalusian rules apply even if the heirs live abroad. If the deceased was not resident in Spain, the rules of the region where most of the Spanish assets are located may apply. Each case must be reviewed individually.

Even with the 99% relief, the valuation is important: it determines whether an heir stays below the €1,000,000 reduction, it fixes the acquisition value for a future sale, and it must be consistent with the value used for the plusvalía and the notary deed.

Plusvalía municipal when you inherit in Marbella

The heir who receives the property pays the municipal capital gains tax on urban land (IIVTNU). It is due within six months of the death, extendable to one year if the extension is requested within those first six months. Since 2021 the heir can choose between the objective method, based on the cadastral value of the land, and the real gain between the purchase and the date of death. If there was no increase in value, the tax should not apply, but you have to prove it.

Step by step: valuing and declaring an inherited property in Marbella

1. Gather the documents: death certificate, certificate from the Registry of Last Wills and the will (or a declaration of heirs), title deed and the cadastral reference of the property.
2. Check the reference value on the Catastro website for the date of death.
3. Compare it with the real market value. If the property needs renovation, has legal issues or the market has moved, obtain an independent appraisal from a certified valuer.
4. Decide the value to declare with your lawyer, considering inheritance tax, plusvalía and the future capital gains tax when you sell.
5. File the inheritance tax returns within six months of the death. An extension of six more months can be requested within the first five months, with late-payment interest.
6. Pay the plusvalía to the Marbella town hall within its deadline.
7. Sign the deed of acceptance of inheritance before a notary and register the property in the Land Registry in the heirs’ names.

Non-resident heirs will need an NIE and, if they live outside the EU or EEA, generally a tax representative in Spain. Many of these steps can be completed remotely with a Spanish power of attorney.

Common mistakes we see

• Declaring the old purchase price or the cadastral value, which is usually below the reference value and triggers a tax assessment with interest.
• Declaring a value that is too low “because the tax is 1% anyway”, and then paying more capital gains tax when selling.
• Missing the six-month deadline and paying surcharges.
• Forgetting the plusvalía municipal, which is a separate tax from inheritance tax.
• Not planning ahead: a Spanish will for non-residents can make the whole process faster and cheaper for your heirs.

Frequently asked questions

What value is used for inheritance tax on a property in Marbella?

The Catastro reference value, unless the heirs declare a higher value. If the property has no reference value, the higher of the declared value and the market value applies.

Can I declare a value lower than the reference value?

You can only rely on a lower value if you can prove it, typically with a detailed appraisal from a certified valuer, through a rectification request or an appeal. Otherwise the tax office will apply the reference value.

Do I need a valuation if my inheritance tax will be almost zero in Andalusia?

It is still recommended. The declared value becomes your acquisition value when you sell, so a realistic valuation can reduce your future capital gains tax.

How long do I have to declare an inheritance in Spain?

Six months from the date of death for inheritance tax and for the plusvalía municipal. Both deadlines can be extended if the extension is requested in time.

Can a lawyer handle the valuation and inheritance process if I live abroad?

Yes. With a power of attorney, our team can coordinate the valuation, file the taxes, deal with the notary and the Land Registry on your behalf.

Get help with an inheritance in Marbella

Every inheritance is different, and the right valuation strategy depends on the heirs, the residence of the deceased and your plans for the property. Our inheritance and wills lawyers in Marbella review the reference value, coordinate an independent appraisal when it makes sense and handle the whole process in English. Contact us to review your case.

This article is general information and does not replace legal advice for your specific situation. Last updated: October 2026.