And I thought that they had redone all the catastral values recently as well? Isn’t that really the ‘official’ value of a property?
They’re in the process of revaluing the valor catastral, some have been done and some are yet to be done.
The valor catastral is the rateable value of a property and land it sits on and is not a reflection on any assumed market value. It’s used to calculate IBI, rubbish collection, plusvalia and non-resident taxes. It is not used for capital gains tax calculations!
I repeat it is not a assessment of the ‘offficial’ or market value of a property.