The Madrid City Council expects significant savings with respect to the Property Tax (IBI) for the coming year, estimating that the reduction will reach more than 30 million euros. This measure is part of a package of fiscal initiatives that aims to alleviate the economic burden on taxpayers and foster economic development in the capital. The municipal authorities have emphasized that this reduction is possible thanks to efficient budget management and an increase in revenues from other sources.
In parallel, the fiscal strategy also seeks to incentivize private investment and revitalize strategic areas of Madrid, thereby expanding the positive impact of the measure on the local economy. The City Council has assured that it will continue evaluating other possibilities to maintain a robust economy and to collaborate with citizens, while it adjusts fiscal policies to address current and future challenges. This action is part of a broader effort that seeks to balance the economic well-being of the inhabitants with the city's sustainable growth.
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