The new cadastral reference value already began to be applied on January 1, 2022. The Treasury will begin to use it as the tax base to be able to calculate those most relevant taxes that are part of the processes of inheritance or sale of a home. Taxes such as Documented Legal Acts and Patrimony or Inheritance and Donations.
This modification entails several drastic changes, because Cadastre will be in charge of setting the reference value,observing the costs of those home sales that have been made before a notary correctly.
The reference value will be calculated through individualized valuations that will take into account the particularities of each of the properties, such as their age or their quality of construction. This value, according to the standard, may not be higher than the market value. In short, it will be the one that we will consider whenever we have to calculate the price for the Wealth Tax of the homes acquired from 2022.
Previously, a value that usually matched the price was declared. But if the Administration considered that the value was higher and that more would have to be paid, it was required to prove it. According to the Supreme Court, it would initially be carried out by completely legal, although unethical, means. Therefore, the Court requires an individualized visit to properly value the home.
From now on, even if the price is lower, the taxable base will be the reference value. If the taxpayer is not satisfied with the value, he will have to prove it by judicial means in court. In the case where the reference value is higher, the taxable amount would automatically become the price.
How to calculate the new cadastral reference value of a home
To be able to carry out this calculation, it is only necessary to have one of the digital accesses such as the Cl@ve system, an electronic DNI or a digital certificate.
After this, access the Electronic Office of the Cadastre and first of all, find the cadastral reference of the house if it is unknown. Subsequently, click on the box on the first page of the website above the reference value and follow the indications that will appear when clicking on “reference value query”.
In the case of a complaint, how can it be appealed?
After knowing the cadastral reference value of the property, in the case of disagreement with the final value, there is the possibility of claiming it before the administrations. This can be carried out as long as the person who acquires the property, buys it using said value as a taxable base to know the taxes to be paid.
To appeal it, it can be through two different ways. The first, claiming the settlement from the taxpayer if he has carried out the self-assessment for a price lower than the reference value or if he has not settled the tax.
If the reference value is finally contested, the Treasury will be responsible for requesting a report from the Cadastre with the aim of modifying said value. Anyone who claims the value of their property must justify their arguments through verifiable evidence, defending that the cadastral value is not the indicated one.
The value of a property as a subjective concept
Depending on the characteristics of the property, the price of housing is a subjective term that can oscillate to a large extent. Characteristics such as the views of the property, the smell or the reforms carried out. These are some of the factors that can influence the value of a home that do not appear in the statistics and that are evident in the visits to the property.
These ratings vary according to the tastes and personality of each person. Some appreciate more the dimensions of the property or the quality of the neighborhood where it is located, others a good location to be closer to their family nucleus. On the other hand, all these valuations only pose a problem when taxes have tobe paid, that is, when buying above the reference value. Otherwise, positive valuations will not be taken into account when buying below the reference value.
Although it is true that there will always be buyers who agree to pay more than the reference value and sellers who sell their properties for less, the new reference value will influence the negotiations and possibly cause other unintended consequences: Will small reforms be carried out for the sale of the property, knowing that they will not be reflected in the reference value? Will the hiring of appraisals be reduced after the creation of a free one?