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The President of the Generalitat, Carlos Mazón, during the presentation of the 2024 tax collection results of the Generalitat. GVA
Mazón Boasts About His Fiscal Policy: The Generalitat Increases Revenue by 7.8% Despite Tax Cuts

Mazón Boasts About His Fiscal Policy: The Generalitat Increases Revenue by 7.8% Despite Tax Cuts

The regional government has collected 2.541 billion euros in 2024 from its own taxes

José Vicente Pérez Pardo

Alicante

Jueves, 30 de enero 2025, 12:50

President of the Generalitat, Carlos Mazón, has proudly highlighted the fiscal policy of the Consell. The figures support this, as the Valencian Tax Agency has increased its revenue by 7.8% in 2024 to 2.541 billion euros, even with the reduction of taxes and fees implemented last year. "The Consell's fiscal policy works as it leaves more disposable income for citizens, especially for low and middle incomes, while simultaneously stimulating the economy," he remarked during the presentation of the 2024 ATV revenue balance.

The Consell's tax reform eliminated the Inheritance and Donations Tax and reduced the rate on Property Transfers, resulting in a 48% increase in donations. In fact, the revenue increase achieved in 2024 is mainly due to the boost from the Tax on Onerous Property Transfers. With 1.545 billion euros in revenue, it represents more than half of the direct action of the ATV, reaching the highest levels of the century, except for the years preceding the 2008 real estate crisis.

The significant increase in Alicante (10%) and Castellón (15.5%) "demonstrates the strong economic development taking place in these provinces, mainly thanks to real estate activity and business investments," according to sources from the Department of Economy and Finance.

Fiscal Balance 2024

Of all the taxes managed by the ATV, the Tax on Property Transfers and Documented Legal Acts is the one that carries the most weight in recognized rights and actual revenue. In 2024, 1.928 billion euros were collected, 18.5% more than in 2023, marking the highest recorded in this tax since 2007.

By province, Alicante experienced a 17.24% increase in recognized rights, Castellón 21.34%, and Valencia 19.54%, demonstrating that the entire Valencian Community is attractive for new investments.

In the Documented Legal Acts modality of this tax, especially linked to notarial deeds, revenues reached 379 million euros after a 22.47% increase.

On the other hand, the reduction of reduced and super-reduced rates of the Property Transfer Tax has meant that the 18,070 declarants who have opted for these rates since January last year have saved a total of 23.6 million euros, or an average of 1,306 euros each.

The rate aimed at young people under 35 acquiring their first habitual residence was the most used, with 12,223 declarations and an average saving of 1,414 euros per taxpayer. The distribution by province indicates that 4,279 taxpayers in Alicante saved a total of 5.8 million euros.

Apart from the revenue data from own and ceded taxes, Carlos Mazón has highlighted the good performance of the past year in the regional section of the IRPF, as "revenue increased from 6 billion euros to 6.8 billion, even after implementing tax deductions and reducing fiscal pressure."

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todoalicante Mazón Boasts About His Fiscal Policy: The Generalitat Increases Revenue by 7.8% Despite Tax Cuts