What is the Cadastral value and how to find it?
April 4, 2022
Cadastral value (Valor Catastral in Spanish) is an administrative value that is given to all Spanish properties. It is used to assess the amount of the local tax rates that every property owner must pay and for the calculation of the non-resident tax liability when it comes to not rented properties.
The Spanish government’s definition of cadastral value which applies to all properties is:
The cadastral value is an objectively determined administrative value for each property, which results from the application of the valuation criteria set out in the value assessment of the municipality concerned.
How is the Cadastral value calculated?
In order to determine the cadastral value of a property, the following components are essentially considered:
- The location of the property, the urban circumstances affecting the land and its suitability for production.
- The execution costs of the construction, the quality and age of the building, as well as the historical-artistic character or other conditions of the buildings.
- The circumstances and values of the market, the value of the land, the value of the construction and the production costs and profits of the development business activity.
In general terms, Cadastral values may not exceed the market value of properties. To this end, a ministerial order has established a market reference coefficient of 0.5 at the time of the approval and entry into force of the cadastral valuation. In the case of properties with an administratively limited sale price, the cadastral value may in no case exceed this price.
Cadastral values are calculated by the Catastro (https://www.catastro.meh.es/), which is an administrative register under the Ministry of Finance. Cadastral values may be updated annually through the application of coefficients approved by the corresponding General State Budget Laws.
Once Cadastral values have been established, they are given to local authorities who use them to calculate local tax rates.
How do I find the Cadastral value of my Spanish property?
How is the calculation of the Non-resident tax (Modelo 210) made?
€480 (Tax Liability)
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