DIFFERENCE IN VALUE BETWEEN PRICE PAID AND ESCRITURA VALUE

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This topic contains 3 replies, has 2 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 1 month ago.

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  • #53408
    Profile photo of Anonymous
    Anonymous
    Participant

    We paid 180,000 euros for our property, but on the deeds the value is 20,000. Do you think

    a) this is reasonable in Spain – what sort of values do other people have
    b) should we use this value for calculating taxes or use the higher catastral value?

    many thanks

  • #75667
    Profile photo of Inez
    Inez
    Participant

    My goodness! How long ago was that? Its illegal to underdeclare and although the authorities were tunring a blind eye to around 20% underdeclaration, now theres no way its allowed!

    You will need to use the higher catastral value and when/if you decide to sell, you may well be lumbered with the captial gains tax on the profit, even though its effectively your money!

  • #75668
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes, it’s totally amazing – it was only 4 years ago we bought it. Hopefully we won’t be selling until we’re over 65!! He was very crafty who we bought it off and the solicitor wasn’t much better.

  • #75671
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Inez
    Why should we use the catastral value instead of the escritura value? The solicitor who did it the first year used the escritura value?

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