Yes you are correct I guess my wife and I are fortunate for owning 2 properties in Spain.
The tax on notional rent we will pay on the second property is 493 Euros and 158 Euros on the first. When using the escritura and valor catastal respectively.
This is almost 700 Euros in tax for income we do not receive, my complaint is more to do with the system than the value. It highlights the illogical tax system. 3 times the tax on a property worth 50% less than the other, seperated by about 150 metres and constructed only 4 years apart
It’s the first year for submission of tax on the second property but we have been told that is will be another year before a catastral value will be issused. Furthermore the first was purchased for 118,000 but the valor catastral today after being revised 3 times is still only 60,000. Hence why I have difficulty in understanding the disparity.
You would be not too pleased if you knew your were paying 3 times the council tax on your home (if you have one in the Uk), than your neighbour when you property is half the size.