Property valuation
Property valuation
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What does the cadastre refer to?
It is a report dependent on the State whose content lies in the description of real estate of an urban, rustic nature and with particular qualities. Its purpose is to determine the cadastral or fiscal value of properties and buildings, as well as changes linked to it.
Do you know what a Cadastral Appraisal is?
It is a study in which the value of the property tax to be covered is established. This type of endorsement is carried out by the territorial government
What is the purpose of carrying out a Cadastral Appraisal?
The cadastral appraisal allows determining the valuation of a property based on its location as well as its square meters of construction and land.
When you have the value of the property before the cadastre, you can set an amount of taxes to be collected at the time of acquiring a property.
A cadastral appraisal involves aspects such as a lower payment if the situation corresponds to a budget that does not adjust to the real estate characteristics of the property or for tax deduction purposes and mostly so that they are useful in annual declarations.
When should a Cadastral Appraisal be carried out?
It is required when there is an irregularity in the information that is recorded, such as the characteristics of the property and those that are in the cadastre. This with the objective of adapting the tax base and adjusting the payment amount with respect to property tax.
A cadastral appraisal involves aspects such as a lower payment if the situation corresponds to a budget that does not adjust to the real estate characteristics of the property or for tax deduction purposes and mostly so that they are useful in annual declarations.
How is its value established?
This type of appraisal is carried out by the Special Administrative Unit of the District Cadastre and examines the land and buildings individually. The calculation of both aspects provides the cadastral value of your property.
When carrying out the land valuation, the following is considered:
- Economic movement of the sector
- Road condition
- Topography as well as land use regulations
For construction, the following is taken into account:
- Structure character
- Conservation conditions and finishes
- Antiquity
- Building use
- Status of space rooms
Advantages of hiring a cadastral appraiser
It helps to establish in a verifiable manner the cadastral characteristics of the property, that is:
- Establish the cadastral value of properties and land.
- Have a document to support the amount of tax to pay
- Convenient investment of time and money
- According to the cadastral value, establish the property tax to pay.
- Make payments with the correct amount.
- Save your company money
How to know the cadastral valuation of a property?
To know the cadastral valuation of a property you must consult the website of the mayor's office of your city or portal of the Ministry of Finance of the municipality to which it corresponds by selecting the cadastre section, here you can find the cadastral type information as well as real estate registration and with this request the cadastral appraisal, cadastral letter, property form or any document linked to the cadastre that is required.
What is needed to update the value of a real estate property?
To update the cadastral appraisal of real estate assets, the request must be made through the portal of the corresponding city mayor's office.
- The conditions and prices of this process are variable depending on the city, but the documentation normally requested is:
- Owner's ID
- Request letter corroborating the appraisal
- Photographic evidence of the property, space, building, marking of the land and construction area and probable failures thereof.
- Public deed of the property
After submitting the application, an appraiser from the region will visit the home to verify the information presented. According to this procedure, the valuation of the property can increase or decrease according to the considerations of the appraisal team.
What is the validity of a cadastral appraisal?
Generally, the validity of this type of appraisal is annual, according to the data provided by the Cadastre Unit, since it is useful to pay annual taxes as long as the property does not undergo modifications in the administrative processing period and that the economic situations are the same. with which the appraisal was carried out.
