Tax on the sale of properties valued at one million euros or more is to go up in 2022. The Balearic government's budget has set a rate of 11.5%, an increase from 11% and one which is forecast to generate revenue of 679.7 million euros, 63% more than was budgeted this year. Finance minister Rosario Sánchez says this will "reinforce" progressive taxation at the high end of the property market.
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