igher Cadastral Value than Buying Price

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    Profile photo of JB
    JB
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    Hi, We bought out apartment in Spain in 2014, during the buying process the cadastral value was revised, which meant we paid 5,666 euros more on the 8% transfer tax. The cadastral value is now 179,000 euros but we only paid 114.000 euros. All our taxes ( IBI etc. ) are based on the cadastral value, is this normal?. Also how will this affect the sale of the property? We were hoping to sell for around 160.000 – 170.000 euros ( to include the 3% retention tax ) .

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