Canary Islands Vehicle and Boat Price Update

Overview

The Canary Islands' tax authority has announced updated average market prices for various vehicles and boats, effective from January 1, 2026. These figures are used to assess taxes on property transfers and inheritances, ensuring assessments reflect current market realities.

The updates follow previous revisions in 2024, showing ongoing efforts to keep tax calculations accurate amid market fluctuations.

Details of the Update

• The new adjustments cover categories like:
  • Commercial vehicles
  • Trailers
  • Quads
  • Boats
• Some categories, such as buggies, are temporarily excluded due to upcoming national regulation changes.

Importance of the Update

"This update is crucial for residents and expats, as it directly impacts the valuation of vehicles and vessels when dealing with property taxes or transferring assets. Accurate valuations help prevent over- or under-taxation, providing clarity for owners and buyers."

Regulatory and Market Alignment

• The Canary Islands' tax authority emphasizes that these figures now align with both local and national regulations.
• The updated prices will be used for tax purposes starting early next year.
• This reinforces the region’s commitment to adapting to market changes and regulatory adaptations.

Summary

This update reflects the Canary Islands' ongoing efforts to maintain fair and accurate tax assessments based on current market prices, benefiting property owners, residents, and the regional tax system.