Valencia.
The President of the Generalitat, Carlos Mazón, and the Minister of Finance, Economy and Public Administration, Ruth Merino, have presented the new fiscal measures that will be provided for in the Fiscal Measures Law, which accompanies the Budgets of the Generalitat for 2024 , and which will represent an estimated saving of more than 199 million euros for Valencians.

As Carlos Mazón highlighted in a press conference, this is a package of fiscal measures with which the Council "adapts taxation to the needs of the citizens" and from which a maximum of 2 million Valencians will be able to benefit. This fulfills the commitment made by the Council in matters of social cohesion, support for families and public health.

With this reform, which is proposed with retroactive effect in the case of the measures in the personal income tax so that the savings occur already in the 2023 income declaration, Valencians will save more than 199 million euros, 180 millions of which correspond to deductions in the personal income tax. The measure applies to declarations with an individual liquidable base of a maximum of 32,000 euros, and a joint maximum of 48,000 euros.

Social deductions in the personal income tax

The head of the Council has announced six new deductions of a social nature related to health and sports practice "aimed at the people who need it most", with the aim of "alleviating low incomes and reactivating the economy". Measures that will result in an estimated total savings of 180,205,525 euros for the citizens of the Valencian Community who can benefit from them.

Included in the package of measures are deductions of up to 150 euros, for 30% of the amounts paid for expenses related to oral health, and deductions of up to 100 euros for 30% of expenses for the purchase of prescription glasses , contact lenses and cleaning solutions.

Likewise, deductions of up to 150 euros are collected for 30% of the expenses generated by members of the family unit who need help to suffer from any pathology similar to mental health problems. It also includes a deduction of a maximum of 100 euros for expenses associated with chronic diseases of high complexity or those known as rare, as well as a diagnosis of acquired brain damage or Alzheimer's. The limit of this deduction rises to 150 euros if the family unit is large or single-parent.

In addition, deductions of 150 euros are included for a maximum of 30% of the expenses associated with sports practice.

Super-reduced rates for the acquisition of homes

A second block of tax reductions is related to the purchase of regular housing by vulnerable groups, such as young people under 35, large and single-parent families, people with disabilities, women subject to gender-based violence or families with low resources that access sheltered housing.

This measure consists of reducing to 6% the rate of burdensome property transfers of the Property Transfer Tax (ITP) and Documented Legal Acts (AJD) for the purchase of a regular home by young people under 35 years of age and also by to buyers of protected homes under the general regime, in both cases with a home value of 180,000 euros at most.

For the acquisition of special regime protected housing or if the buyers are large families and single-parent families, or people with disabilities and women subject to gender violence who acquire a home, the super-reduced rate becomes 3%. Also in these cases the limit of the value of the house is fixed at 180,000 euros.

Savings of almost 20 million in housing

These rate reductions foreseen in the taxes levied on the transfer of a home will mean a saving of almost 20 million euros for young people under 35 years of age and the other vulnerable groups benefited by this Council measure.

With regard to the deductions in the personal income tax of the expenses related to oral, visual or mental health, the measure is focused on the part of the population that currently does not have access to them for economic reasons, since they are benefits with a low coverage within the portfolio of common services of the National Health System.

This, according to the Council's opinion, made it "essential" to enable several formulas, including the tax, "so that health is an effective right within the reach of all citizens".

Finally, the president of the Generalitat emphasized that "this is the change that the citizens of the Valencian Community deserve, to which I committed myself and with which I will continue to advance".