Deductions on principal residence in the Valencian Community: Renta 2024

Find out about the regional deductions for main residence that taxpayers in the Valencian Community will be able to enjoy in the 2024 income tax year.

The Renta 2024 campaign begins on 2 April. From that date until 30 June, taxpayers will be able to file their Income Tax Return for the 2024 tax year. This year, as the main new feature, if the tax return is paid in, taxpayers will be able to make the payment by credit card, debit card or even Bizum.

Focusing on the Valencian Community and the deductions related to housing, what regional deductions will Valencians be able to access in the Income Tax Return?

Regional deductions for permanent residence in the Region of Valencia

Below you will find an overview of all the regional deductions for main residence in the Valencian Community for the 2024 Income Tax year. If you want to know more about each of them and check, for example, which income requirements must be fulfilled, you can download the Renta 2024 Manual.

For income derived from renting

Valencians will be able to deduct 5% of the income obtained from renting their home provided that they meet the following requirements:

• That the income obtained from renting comes from housing rental contracts in accordance with current legislation, initiated during 2024.
• If the property has been rented previously for a period of less than 3 years, the tenant must not be the same as in the previous contract.
• That the deposit has been made in favour of the Generalitat before the end of 2024.
• That the monthly rent does not exceed the reference price for private rents in the Valencian Community.

The maximum annual base for rents derived from rent is 3,300 euros.

You may be interested in: Stressed areas in the province of Alicante under the Housing Law

For the acquisition of a habitual residence for those under 35 years old

Those under 35 years of age can deduct 5% of the expenditure destined to the purchase of their main residence, except for the part of these amounts that correspond to interest. For the Generalitat Valenciana, the construction or extension of a main residence is considered to be the purchase of a main residence.

In addition to the requirements established by the state regulations in charge of regulating the deduction for investment in primary residence, in order to apply the regional deduction, taxpayers must also comply with the following:

• That it is the acquisition of the first main residence.
• The beneficiaries must be 35 years old or younger on 31 December 2024.

For the purchase of a primary residence by people with disabilities

Taxpayers will be able to access a deduction of 5% of the amounts invested in the purchase of a primary residence, except for the part of these amounts that correspond to interest, for persons with the following degrees of disability:

• Physical or sensory disability equal to or greater than 65%.
• Mental disability equal to or greater than 33%.

For amounts destined to the acquisition or rehabilitation of the habitual residence, coming from public aid

Valencians will be able to access a deduction of 112 euros on the amounts invested in the purchase or renovation of a home that constitutes or will constitute their habitual residence. The amounts invested to qualify for the deduction must come from a subsidy for this purpose granted by the Generalitat, charged to its own budget or to that of the State.

For renting or payment for the transfer of a habitual residence

As a general rule, the Valencian Community establishes a deduction of 20% of the amounts paid for renting or transferring a main residence, with a limit of 800 euros.

This deduction may be increased to 25% if the taxpayer has one of the following conditions:

• Is aged 35 or under.
• They have a degree of physical or sensory disability equal to or greater than 65%, or a mental disability greater than 33%.

This deduction may be extended to 30% with a maximum deduction of 1,000 euros if 2 or more requirements are met.

For renting a home to carry out a self-employed or employed activity in a different municipality

Taxpayers will be able to access a deduction of 10% for renting a home as a consequence of carrying out an activity, as an employee or self-employed person, in a municipality other than the one in which they previously resided.

Requirements and conditions for accessing the deduction:

• That the rented home is within the Valencian Community and is more than 50 km from the one in which the person resided before the rental took place.
• That the amounts invested in the rent are not paid by the employer.

The maximum amount of the deduction is 224 euros.

For investment in installations for self-consumption of electrical or thermal energy

Deduction of 40% on the amounts invested in a habitual residence or in a building for the installation of installations for any of the following purposes:

• Installations for self-consumption of electricity.
• Installations for the production of electrical energy from solar photovoltaic or wind energy.
• Installations for the production of thermal energy from solar energy, biomass or geothermal energy for the generation of domestic hot water, heating or air conditioning.

This reduction will be limited to 20% of the amounts invested when the installations are carried out in a second residence.

Below you will find a table summarising the deductions for main residence in the Valencian Community for the Renta 2024:

Concept	Percentage / Amount	Main conditions
Income from renting a home	5% of rental income	New contract in 2024, deposit paid, rent ≤ reference price. Limit: 3.300 €/year
Purchase of primary residence by persons under 35 years of age	5% of the amount (without interest)	First main residence. Age ≤ 35 years at 31/12/2024
Purchase of home by disabled persons	5% of the amount (interest free)	Disability ≥ 65% physical/sensory disability or ≥ 33% mental disability
Public aid for the purchase or renovation of a home	112 €	Must come from regional or state subsidy
Renting or transfer of habitual residence	20% up to 800 €	In general
Rent or transfer of usual residence	25% up to 800 €	If ≤ 35 years old or disability ≥ 65% physical/sensory or > 33% psychological
Rent or transfer of main residence	30% up to 1.000 €	If 2 or more of the above requirements are met
Rent due to work transfer to another municipality	10% up to 224 €	New municipality more than 50 km away, rent not paid by the employer
Investment in self-consumption energy installations	40% of the amount	If it is carried out in the usual residence or building
Investment in self-consumption facilities (second residence)	20% of the amount	If the installation is in a second residence

Important: In order to be eligible for these deductions, taxpayers have to comply with a series of extra requirements related to their income, their assets or the payment method chosen for the payment of the amounts paid. To access full information on deductions for main residence in the Valencian Community, download the Renta 2024 Practical Manual.