31 days ago not only began 2017. Since January 1, 2017, any measure collected in the different RDLs that have been broadcast in recent months has been vised in force. In addition, there are certain values that are reviewed annually, as is the case of those related to the cadastre, with their corresponding ups and downs. We explain what this fact consists of, which, like the latest changes in the Corporation Tax, is contained in RDL 3/2016, of December 3 and has an impact on the day -to -day life of SMEs and individuals.
What is the cadastre?
First, it is useful to define what the cadastre is. The real estate cadastre is an administrative registry dependent on the Ministry of Finance and Public Function in which the rustic, urban and special characteristics real estate are described. It is regulated by the Consolidated text of the Real Estate Cadastre Law and the registration in it is mandatory and free, characteristics that differentiate it from the Property Registry.
The cadastral description of real estate includes its physical, legal and economic characteristics, among which are:
- cadastral reference.
- graphic representation.
- cadastral value.
- Cadastral Holder.
The training and maintenance of real estate cadastre, as well as the dissemination of cadastral information is the exclusive competence of the General Directorate of the Catastre throughout the national territory, except in the Basque Country and Navarra. The original purpose of the cadastre is tax, providing the necessary information for the management, collection and control of various tax figures by the state, autonomic and local administrations. For these purposes, the cadastre facilitates the Census of Real Estate, its ownership, as well as the cadastral value that is an administrative value that corresponds to each property and that allows to determine the economic capacity of its owner.
In addition to the tax function, in recent years the uses and profits of cadastral information by administrations, citizens and companies have increased significantly. As the most recent novelty in this area, it is possible to cite the massive information discharge service, available since April 2011 and that makes the cadastral information available to companies and individuals, including the possibility of its reuse.
When do we have to go to the cadastre? Through a cadastral statement, which is the document by which it is informed of the cadastre that has produced a modification in the property that affects its cadastral description, we will formalize changes in the information in the following cases:
- New constructions and the expansion, rehabilitation, reform, demolition or demolition of existing ones, whether partial or total.
- Modification of use or destination and cultivation class changes.
- segregation, division, aggregation and grouping of real estate.
- roperty acquisition, as well as its consolidation.
- Constitution, modification, acquisition of the ownership of an administrative concession and the real rights of usufruct and surface.
- Variations in the share of participation that corresponds to each of the spouses in common real estate, as well as the internal composition in the participation quota of each of the community members, members or participants of the communities or entities without personality legal.
Here it is necessary to make an subsection. The fact of your update announcement in December this year has not been normal. The cadastre is regulated by the Law of the Real Estate Cadastre, which is updated in accordance with the General State Budget Law for each year. What happen? As we know, there was a delay in government formation, which has made it impossible to process that law in question. As also the cadastre update has an immediate impact on the Real Estate Tax (IBI) and said tax is accrued on January 1 of each year, this update had to be introduced before the end of the year by this legislative instrument (the RDL 3/2016).
Why does the assessment upload or lower? It depends on the years without being thoroughly reviewed the cadastre of your municipality. If your town has not thoroughly updated all cadastral values between 1984 and 2003, now with the new coefficients you can apply upward adjustments. The idea is that the floors, houses and premises have gained value since then. However, for those municipalities that will review it thoroughly after 2004 and now request these adjustments, what they will apply are down adjustments. Because with respect to reviews since that year, in full real estate bubble, the value of real estate has fallen. The municipalities can request to adjust the cadastral value of the homes of their municipality every year if they have not applied a deep and complete review in more than five years, as long as it is carried out before 03/31.
What does it affect you?
In general, these types of adjustments can have an impact on the IBI, IRPF, municipal surplus value, ITP, AJD and Heritage Tax. We go one with its effects:
The Real Estate Tax is one of the taxes that are directly affected by whatever the update (upward or down) of the cadastral values. However, the IBI is a type of municipal tax, so the measure adopted by the Valencia City Council, who a month ago he communicated that he would assume the increase in the estimated cadastral value for Valencia is not drawn. In fact, it will reduce the types of taxes of the Real Estate Tax (IBI) so that no taxpayer experiences the increase in the cadastral value that the central government has ruled for the real estate properties of the city, increased by 4%. In other locations, the thing changes.
- municipal surplus value
This tax concept, also known as taxes on urban lands, taxes the increase in value that a land has experienced during the time that a person has owned a floor, a place or land and is settled when Property is transmitted, as is the case in a sale. It is calculated on the cadastral value of the soil and the number of years that has been owned.
- Heritage Tax
- ITP and AJD
The way in which taxes on patrimonial transmissions and documented legal acts and tax on succession and donations are also constituted by the real value of the transmitted asset are calculated. The ITP has been in force since September 24, 1993, when the consolidated text of the Patrimonial Transmission Tax and Documented Legal Acts was approved. Although it may seem an exclusive sales tax, it also has an impact on rentals, since with the law in hand, the tenant is making an onerous acquisition, such as the purchase.
since we talk about rentals, we are going to the other side, to the mortgages, where it is quite common for some individual to have practiced a mortgage novation, that is, the change of conditions such as the deadline, interest rate, amount, currency … This fact, so far it did not keep any special taxes, but the recent changes in the Treasury will do them in the event that there are changes in appraisal values, amortization systems or expansion of the period of lack.
In Verum we have a purpose: strengthen the financial section of our clients. As you can see, the fact that the cadastre dictates a rise or decrease in soil values can affect you in different ways. Fiscal advice about it? It has us: email@example.com