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Cadastre and cadastral value

Posted by Michel B. on 27/10/2020

If you have ever been interested in the value of a property, you have probably heard of the Cadastre. This public body, which depends on the Ministry of Finance, contains all the information about the country’s properties, as well as their cadastral value. In addition, this information is used as a reference to calculate taxes such as IBI. In this post we explain well what the Cadastre is and what it is for.

Specifically, as indicated on the  web del Ministerio de Hacienda , the Cadastre is an administrative registry that depends on the Ministry of Finance. This record contains the description of both rustic and urban real estate. In addition, it also offers the special characteristics of each property.

The document resulting from a cadastral declaration is the one that informs the Cadastre that there has been a modification in a property. Therefore, it is mandatory to carry out this procedure:

To carry out new constructions or expand, rehabilitate, reform or partially or totally demolish existing ones.
If the use or destination of the property is modified.
When a segregation, division, aggregation or grouping of real estate is carried out.
When acquiring a property, as well as its consolidation.
At the time of establishing, modifying or acquiring the ownership of an administrative concession.
The participation quota corresponding to each of the spouses in the common real estate or the internal composition in the participation quota of each of the members that compose it varies, provided they are entities without legal personality.

Are the Cadastre and the Property Registry the same?

A priori, it may seem that the Cadastre and the Property Registry are the same, but they are not. One of the main differences lies in the fact that registration in the Cadastre is compulsory and free, and in the Land Registry, it is not.

In addition, a resolution was recently approved that standardizes communications between the two organizations. This document, which was signed by the General Directorate of Legal Security and Public Faith of the Ministry of Justice and the General Directorate of Cadastre of the Ministry of Finance, establishes the following objectives:

Give greater legal security to real estate traffic.
Increase accessibility and transparency.
Eliminate access barriers to real estate information.
Reduce costs.
Allow the involvement of citizens, who can now modify the description of their properties.
Simplify administrative procedures.

How is a property registered in the Cadastre?

Registering a property in the Cadastre is a mandatory procedure and can be done in different ways:

Declaration from the 900D model by the interested party.
Communication made through Notaries, Property Registrars and some Public Administrations.
In some cases, which are legally established, it can be carried out from a request made by the interested party.
In addition to these tax options to register a property in the Cadastre, there are other alternatives. For example, through a discrepancy correction procedure or through inspection procedures, as long as a relevant tax verification and investigation has been carried out. Likewise, when it comes to constructions or alterations in the characteristics of a property, a cadastral regularization may be carried out.

Cadastral value: what is it and how is it defined?

One of the most relevant data on each property in the Cadastre is the cadastral value. This index is an administrative value that is set based on objective characteristics for each property. Although it is the Presentation of each municipality that collects what these criteria are, mainly the following can be highlighted:

The location and urban circumstances that affect the land.
The cost of material execution of the construction and other expenses such as professional fees or taxes levied on the construction.
The use, quality or age of the property. Its historical-artistic character also influences.
Production costs or profits from promotional business activity.
Other circumstances such as the value of the construction or market or land values.
To know the cadastral value, it is necessary to go to the Cadastral of the corresponding municipality or in the online Cadastre and enter the identifier of the property and personal data and it can be easily known. Likewise, the receipt for Real Estate Tax (IBI) always includes this data.

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