What does this new Cadastre Reference Value consist of?
Know that it is a different concept from the usual cadastral value that we always know. The cadastral value is always calculated based on values set by the corresponding municipality and takes into account the location of the property, the location, the area within the city, the age, the quality of the construction, the reforms or the renovations. in the building and the state of conservation.
This value is updated by the Budget Law, although not simultaneously or uniformly for all municipalities.
The new Cadastre Reference Value is determined by the General Directorate of Cadastre and, as we have explained previously, it is based on the calculation based on real estate transaction prices previously carried out before notaries and based on the cadastral characteristics of each property.
This value will be determined each year, simultaneously, in all the municipalities.
Both values are objective. Both the new Cadastre Reference Value and the already known cadastral value will value two dwellings on the same floor of a building, with the same surface area, even though one of them is renovated and with the highest qualities and the other needs reform. These two values do not take into account the circumstances of each property within the dwelling.