In this article we handle on wealth tax for non residents in Spain, the majority of the foreign home owners in Spain. Tax on your wealth in Spain. This is thus the sum of your personal property (stocks, jewelry, cars, etc.) and real assets (land, houses, etc). If you are resident in Spain you will be taxed by the local government (Comunidad Autónoma) on your worldwide assets. As a non-resident on the other hand, you are taxed by the Spanish state. The tax was reinstated for the tax years 2011 and 2012. This means it is related to the tax return you submit in 2012 and 2013.