How is the tax value of a property calculated?

How is the tax value of a property calculated? When you are a homeowner or want to buy or sell a home, it is important that you know certain data and

When you are a homeowner or want to buy or sell a home, it is important that you know certain data and the tax value of a property is one of them. In today’s blog, we will see what the tax value of a property is and how we can calculate it. Let us begin!

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What is the tax value of a property?

The tax value of a property is the one established by Doing to calculate what you will have to pay in taxes when making a sale or inheritance operation. It is quite common to confuse the tax value with the cadastral value, but it is not the same, the latter depends on the municipality and is used to calculate the IBI.

It is very important that you know the tax value of your home, to avoid surprises when paying taxes. The clear example was with the 2008 crisis, many people were forced to sell their home for a much lower price than what they bought it for. This meant when selling the house, they found that they had to pay taxes for the tax value, which was much higher, than for the sale value of the property.

At the time, this was subsequently detected by the Tax Agency, and it was seen that there were times when the tax and market value were different, this is later offset with the income statement. But it is important to know and detect it, the most advisable thing is to deed the house with the tax value as a minimum.

How is it calculated?

To find out the tax value of your home, you can go to the tax office of your community and request it. You can check the information on the Treasury website of each autonomous community.

Catalonia:  It can be consulted through the Real estate appraisals section on the website of the Catalan Tax Agency.

Madrid:  You can make an online assessment through the cadastral reference.

Valencia:  You can make an online inquiry, filling in the requested information.

Aragon: You can consult the Hacienda website of the Government of Aragon.

Basque Country:  It cannot be consulted online, a written request must be sent.

Navarra:  To make a query about the value of the property, you can do it online, in this link they explain all the information to be able to get the valuation sheet.

Asturias:  You can consult the information at the tax office, online.

Galicia:  You can do it through the website of the Galician Tax Agency.

Murcia:  You can find out the value through the program on the Murcia Region website.

Castilla y León:  Through this simple program, entering the province, municipality and public road, in addition to the corresponding Internal Code, you will be able to know the data.

Castilla y la Mancha: You can make a query of the tax value with the cadastral reference, or by entering the address.

Balearic Islands: Know the value by indicating the type of valuation, type of housing and later the characteristics.

Canary Islands: You cannot make an online consultation, but you can send the request online.

Extremadura:  You can make the query through this link, as long as they are urban goods and it is an estimate based on the cadastral value.

Andalusia:  You can make the query through this simple program of the Junta de Andalucía.

Cantabria: Check it in the Virtual Office of the Treasury specifying the type of home and typology and, later, the details of the home.