Does Palma (Mallorca) have a wealth tax?

Balearics, progressive to 3.45%

What does the Palma (Mallorca) wealth tax cost over 10 years?

At the top rate of 3.45%, a $20M balance sheet pays about $690K a year and $6.9M over 10 years, before the exemptions and caps that apply.

Palma (Mallorca) wealth tax 2026: the rate, the base, and the 10 year cost

Top rate3.45%of net assets, per year

On $20M, per year$690K

On $20M, 10 years$6.9M

Effective income tax44%on $1M of income

The 10 year cost on your balance sheet.

Net assets	Per year	10 years
$5M	$173K	$1.7M
$20M	$690K	$6.9M
$50M	$1.7M	$17.3M

Headline rate applied flat. Allowances, the treatment of the main residence, and any cap against income tax lower the real figure. The Dossier applies them to your profile.

Palma (Mallorca) on the board.

The island German and British money chose 30 years ago and never left. Palma for the flat, the Tramuntana for the finca, Port d'Andratx for the boat, and a 2 hour flight to every capital that matters.

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Tax figures use a simplified marginal model with indicative 2026 brackets for a non-US single filer, ignore social contributions, most deductions, wealth taxes, and treaties, and are not advice. Residence rules change often. Verify before acting.