On January 1st, the new reference for the cadastral value came into force. This value serves as the basis when calculating some of the taxes we pay when purchasing or inheriting a property: Tax on Patrimonial Transmissions and Documented Legal Actions and Inheritance and Donations Tax.
What does this new cadastral value imply?
The new cadastral value introduces several significant modifications. Firstly, the Directorate General for Cadastre will update, approve and publish each year the minimum tax base for taxes calculation the following year.
The calculation will assess the value of the transactions carried out in a specific area according to data provided by notaries and registrars. Of course, a reduction coefficient of 0.9% will get applied.
Secondly, given that the new reference value of the Cadastre gets the consideration as the market price and minimum base, the tax will not always be based on the sale price of the property, but on the one that results in the highest amount, reference value or price agreed in the operation.
The consequence? It won't consider the specific characteristics of the property.
In practice, this way of calculating the cadastral value means that a property that needs an in-depth reform can be taxed the same as another already renovated with similar characteristics and location, despite the difference in the price.
How to consult and claim the new cadastral value
It is possible to make an online query by accessing the Cadastre Electronic Office Website. To do this, you only need to have an electronic DNI, a digital certificate or access through the Cl@ve system. It is also necessary to have the cadastral reference of the property, which can get obtained on the same website.
To know the reference value, you only have to click on the corresponding box on the homepage and follow the instructions. It is not complicated, and shortly, the information will be available.
If we consider the value does not correspond to reality, we'll be able to claim it. Whoever purchases or inherits a property must do so before the Tax Agency. There are two ways to do this: request the rectification of the tax document we have presented or appeal the notification that arrives before paying the tax.
If we want the procedure to go forward, it is crucial to attach all possible documentation, including appraisal, that helps demonstrate that the new cadastral reference value harms legitimate interests. The Treasury will then request a report from the Cadastre to determine whether or not the claim is accepted.
Therefore, we must assess these changes in the cadastral value when calculating the expenses involved in buying a home or accepting one as an inheritance.
If you are looking for a new home or a property to invest in, remember that, at Spainhouses.net, you will find the broadest list of homes for sale in Spain.
Once you have found yours, enter the Cadastre website to check its reference value and be able to do the calculations.