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A cadastral value with calculation errors or inaccuracies can lead to overpayment of local taxes.
More and more companies and taxpayers are deciding to file a claim with the Administration to regularize these discrepancies.
For this, a justified report is necessary that defines precisely and forcefully what these divergences consist of. This report reflects the result of what we call “Cadastral Audit”.
Euroval, a valuation company approved by the Bank of Spain, with more than 30 years of experience, offers this service with the help of the best professional experts in the field, and we invite you to learn more about it in depth, clarifying any questions about the cadastral audit and its benefits.
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CADASTRAL AND FISCAL AUDIT
What is the cadastral value?
The cadastral value is an administrative value assigned to each property based on the data existing in the land registry, which in turn is made up of the cadastral value of the land and the cadastral value of the constructions of the property s/ art. 22 of the consolidated text of the Real Estate Cadastre Law.
The cadastral valuation is a collective valuation procedure by which the cadastral values of all urban and rural properties of the same class or municipality are simultaneously updated, with the aim of relating their physical and legal characteristics to reality, and adapting them to market values. It is important not to confuse the cadastral value with the reference value of the properties that began to take effect on January 1, 2022.
How is the cadastral value calculated?
The cadastral value is basically calculated by applying the valuation criteria related to the value of the land and the value of the construction included in the document called List of Values of the corresponding municipality or polygon.
The List of values is the administrative document that contains the general criteria and methodology, valuation modules, weighting coefficients, urban planning and other elements necessary to assign an individualized cadastral value to real estate within the municipal area.
Cadastral Value and Taxation
Until last year, the cadastral value directly affected the calculation of various taxes, from IBI and municipal capital gains, to regional and state taxes such as the Wealth Tax, but now it is no longer the case and the only tax that remains related to the cadastral value is the IBI.
In the case of municipal capital gains, it can continue to play a prominent role, depending on the formula chosen to calculate it: the objective one (in which the cadastral value does count) and the real one (in which the cadastral value is not taken into account).
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The Cadastral Audit
The cadastral value that each property has is determined through the data contained in the Real Estate Cadastre, and this data may be outdated, or the different parameters that the regulations in force assign to them may not be correctly imputed (uses, coefficients, surfaces, etc.).
In a Cadastral Audit, it is verified that all the data that appears in the cadastre, which directly influence the calculation of the cadastral value associated with the property, are correct and, if not, a proposal is made to update the data that can sometimes translate into significant savings in the payment of taxes.
Therefore, the objective of the Cadastral Audit is to review the calculation of the cadastral value to reduce the tax burden of the taxes associated with it and especially the verification of the correct application of the IBI.
Phases of the Cadastral Audit
At Euroval we carry out the cadastral audit process throughout the following phases:
- Collection of documentation
Where the necessary available documents are collected for analysis and the rest are requested from the cadastre:
- Plans and/or projects of the property
- IBI receipts
- Communications received from the Cadastre
- Cadastre valuation sheets
- List of values
Initial analysis
In this phase, the available documentation is analyzed and both the possible savings and the chances of success in the request to correct the detected discrepancies are evaluated.
Based on the conclusions of this initial analysis and by mutual agreement with the client, we can continue with the next phase.
Cadastral Audit Report
At Euroval we carry out a detailed and updated study of all the determining aspects that intervene in the calculation of the existing cadastral value, highlighting:
- Verification of surfaces, uses, age, construction quality and state of conservation with a physical visit to the property if necessary
- Review of the valuation of the property by the Cadastre, as well as the correct application of the valuation criteria contemplated in the List of Values
- Urban planning checks
- Verification of the correct application of the IBI
- Calculation of market value
The report is presented in detail and with data files according to formats commonly used in the cadastre in order to facilitate the subsequent processing of correction of detected discrepancies.
Technical and legal assistance service
At Euroval we provide advice, management and technical and legal coordination before the corresponding bodies, facilitating all administrative procedures for our clients.
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