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The Wealth Tax was abolished in 2008 and re-introduces a “temporary basis” in 2011.
This annual tax is applied to Non-Resident and Spanish Residents as well.
Exemptions. For both Residents and Non-Residents, the exempt amount per taxpayer is 700.000€
The liability for Non-Residents is limited to properties, assets and rights located in Spain so if you are Non-Resident, you will only be taxed on your assets in the country that are valued over 700.000€
For the Residents the liability will depend on the region of the country where you live and the Wealth tax will also apply to all of your worldwide assets.
The taxpayer’s main residence is exempt up to a maximum amount of 300,000€. The exemption will be applied by the taxpayer who has a full or shared right or a real right of use or enjoyment over the main residence.
Every region in Spain is setting different allowances and rates for the Residents, even some regions have approved a tax rebate of 100%.

Go to Local taxes