Valor de referencia de catastro: What taxes and properties does it affect?
Before, when buying a home, you had to pay taxes based on what it had cost. Now, however, they must be paid in relation to the market price stipulated by the General Directorate of the Cadastre. This is the new cadastral reference value and has been in force since January 1, 2022. What does it affect? What does it consist of? We explain it to you.
Cadastre reference value of a home in 2022
It is the value that the General Directorate of the Cadastre gives to a property. It is obtained by carrying out an analysis of the prices of all sales and purchases made before a notary, based on the data of each property that appears in the Real Estate Cadastre.
Until the entry into force of Law 11/2021 of July 9, on the Property Transfer Tax for the purchase and sale of real estate, the tax base of the tax was the real value of the property, said real value being the source of a good part of litigation. these taxes due to their lack of specificity. In this regard, the Supreme Court has stated that there is no real value, understood as a character of things, and has established as a jurisprudential doctrine that, when there is a market for the goods in question, the real value coincides with the market value.
The reference value is one of the economic characteristics of its cadastral description, such as location, surface, use, etc. It should be noted that in no case will it exceed the market value. To do this, a reduction factor will be applied in its determination.
What are the minority factors?
Minority factors are coefficients applicable in determining the individualized reference values of properties, which guarantee that the value of said property does not exceed market values.
Does the Cadastre reference value affect the IBI?
It does not affect (IBI) or the rest of the taxes that have the cadastral value as the tax base.
What taxes are affected by the new reference value?
The Cadastre reference value will serve as the tax base for the Property Transfer Tax (ITP), Documented Legal Acts (AJD) and the Inheritance and Donation Tax (ISD) in those operations regulated with said taxation, which will affect the value of acquisition and transmission in taxes such as personal income tax and municipal capital gains.
As mentioned before, the reference value cannot exceed the market value. So, according to the Cadastre, its use as a tax base does not imply an increase in tax payments.
However, if the declared value, price or consideration paid for a property is higher than the reference value of the property, the highest of these amounts will be taken as the tax base. That is, the reference value of the property will be the minimum tax base for these taxes.
Which houses and properties are affected by the reference value?
The reference value may only affect the Wealth Tax in relation to homes acquired after January 1, 2022, in no case to pre-existing assets.
Differences between the cadastral value and the reference value
The cadastral value of real estate is updated by the General State Budget Laws, and serves as the tax base for the Real Estate Tax (IBI). It is private data and its review occurs, in the case of urban properties, within the framework of collective valuation procedures.
The reference value of the properties will be determined year by year, simultaneously in all municipalities, and will serve as the tax base for the Tax on Property Transfers (ITP) and Documented Legal Acts (AJD), and on Inheritance and Donations. It will be in the public domain and can be consulted at the Cadastre's Electronic Headquarters.
How do you know the cadastral reference value?
The cadastral reference value will be established annually by applying average value modules, based on the prices of all property sales carried out before a notary or registered in the Property Registry, and obtained within the framework of the annual real estate market reports. prepared by the General Directorate of the Cadastre.
These modules will be assigned to representative real estate products by areas of the territory (whether homes, rural properties, offices or premises, among others) and will use the average prices of purchase and sale operations as a basis.
In the case of urban real estate (houses, premises, etc.), the reference value of a specific property will be calculated based on the average value module applicable in the area in which it is located, taking into account the differences in categories. , age and state of conservation between this property and the representative real estate product to which the module refers. For this purpose, the cadastral valuation regulations will be used, temporarily.
In the case of rural properties without construction, for example, plots, the reference value will also be calculated from the average value module, taking into consideration their characteristics, location and the agronomic and socioeconomic factors stipulated in the annual report of the Cadastre, which is available at its Electronic Office.
Before their approval, the resolutions are submitted to a collective hearing, so that allegations can be made. Once approved, you have one month to file a claim before the Central Economic-Administrative Court or an appeal for reconsideration before the General Directorate of the Cadastre.
What to do if I don't pass the benchmark for my home
The reference value can only be challenged when it has a fiscal effect and is the tax base for the ITP, the AJD or the Inheritance and Donation Tax.
According to the General Directorate of the Cadastre, those affected may request rectification of the self-assessment and file an appeal for reconsideration before the Tax Administration, or an economic-administrative claim before the Regional Economic-Administrative Court, against the liquidation.
What taxes are paid when buying a house in 2022?
The taxes for the purchase of a home in 2022 are:
For new homes, you have to pay 10% VAT.
The AJD, which depends on each autonomous community and which must be paid in sales of first-hand and second-hand houses.
For used homes, the Property Transfer Tax (ITP). The amount depends on the percentage applied to the written price and the autonomous community.