Valencian Community shows stark gender gaps in wealth and tax filings
Even as some argue otherwise, gender inequality remains a reality, even among affluent groups. In some situations, inherited privilege or traditional roles widen disparities between men and women beyond those seen in the broader population. The latest data from the Tax Office highlights this gap, revealing that the average wealth of female taxpayers in the Valencian Community is 23% lower than that of male taxpayers.
Specifically, the average assets for men near the upper end of wealth reach about 3.3 million euros, while women on average have 2.5 million euros. This equates to a 23% shortfall. The salary gap between men and women also exceeds the national average, suggesting broader economic imbalances across income and assets (Tax Office data).
According to Antonio Perez Rovira, chair of the Financial Commission of the Alicante Association of Economists, the gender wealth gap is largely explained by historical factors. Legacy and inheritance patterns played a role, with men in past generations more often controlling family wealth. Until recent decades, entrepreneurship skewed male, leaving men as primary owners of many large local companies. This historical concentration of ownership continues to influence current wealth distribution in the region (historical context cited by local economists).
Wealth tax data show that wealthy Valencians hold around 12.2 billion euros in shares exempt from companies, a figure closely tied to family businesses. In contrast, men report about 18.909 billion euros in such shares, underscoring how family-controlled enterprises shape asset ownership across genders.
Evidence from the tax records also points to a different pattern in real estate holdings. Women tend to save more in real estate, with about 7.933 billion euros held, compared with 7.546 billion euros for men. Economists in Alicante note that women often plan with longer horizons and prefer more stable assets, like housing or long-term life insurance policies. In real terms, women allocate more to life insurance (655 million versus 573 million for men) and to annuities (154 million versus 111 million for men) (economic commentary from the University of Alicante).
On the other hand, luxury spending shows a gendered divergence. Men hold a higher value of luxury goods, including jewelry, furs, luxury vehicles, art, and antiques, with the observed totals well above those of women (luxury expenditures breakdown cited by regional economists).
3,723 more taxpayers
In absolute terms, Wealth Tax filings in 2021 counted 27,615 taxpayers in the Valencian Community, a rise of 3,723 compared with the previous year. This does not necessarily imply a year-to-year rise in the number of wealthy individuals, but rather reflects policy changes. The reform approved by the Botanic Council lowered the minimum exemption from 600,000 to 500,000 euros, which next-year taxpayers must declare. This shift partially explains the higher count, as more residents fall under the filing obligation.
Women represented the majority among those declaring Wealth Tax, totaling 14,041 compared with 13,574 men.
Valencian Community ranks behind Catalonia in the share of taxpayers required to file, yet ahead of Madrid, where 20,030 declarations were recorded. It is important to note that national rules set a 700,000-euro exemption in Madrid, with some benefits applied at the regional level. In practice, Madrid’s tax authority continues to offer a 100% bonus on the tax, meaning some declared amounts are not paid, which affects how the data are interpreted (regional fiscal policies described by tax authorities).
Moderating prices also slows down tax collection in Alicante
The fiscal scene in Alicante has contributed to a broader political shift, with new coalitions and strategies to manage wealth taxation. A temporary large-wealth tax was discussed as a means to stabilize revenue, particularly in regions where tax collection trends threaten short-term budgets. The Valencian Community already applies a higher Wealth Tax rate than many other areas, though the regional government has signaled that future adjustments could alter the tax landscape. Observers await how the administration will balance revenue needs with political promises to rethink or reduce the tax on regional wealth. Current discussions suggest that any changes would reflect a careful calculus of revenue, equity, and economic vitality in the region (policy conversations among regional leaders).