Do you know what the cadastral reference value is? All properties must be registered in the land registry in order to obtain the cadastral value of the property. This value plays an important role when it comes to making a sale. For this reason, in today’s article we will explain everything you need to know about this topic. Don’t miss it!
What is the cadastral reference value?
The cadastral reference value is what determines the most likely price for which you would sell the property you are referring to. Each property has a unique cadastral reference, so they are located on your flat at an exact point on the cadastral map. This means that the reference points directly to your physical address.
It is important to differentiate between the cadastral reference value and the cadastral reference. The first term refers to its administrative value and the second term emphasises the identification of the property. Anyone can look up the cadastral reference of a flat just by knowing the address, but the reference value has to be looked up in the IBI.
How can I calculate the reference value?
To calculate this value you have to take into account certain factors specified below:
Location.
Built area or date of construction.
In addition, you must apply the appropriate coefficients depending on the type of property and other considerations that may affect the final price obtained through a tax assessment. After taking these elements into account you should do the following:
Identify the cadastre reference of the property. The reference can be found on the IBI receipts or can be obtained at the Cadastre offices.
Check the land values by consulting the official web page of the Cadastre.
Click on the reference value for the current year.
Consult your reference value by entering the cadastral reference and the reason for the consultation.
Finally, download the document in PDF format. By following these guidelines you will be able to find out the true tax value of your property, which is essential if you are thinking of selling or mortgaging it.
The importance of the cadastral reference value
The cadastral reference value is of utmost importance when determining certain taxes. It also plays an important role in Corporate Tax, Property Transfer Tax, Wealth Tax, among others. Without a doubt, any upward revision of the cadastral value of your property can be detrimental to your interests.
