Finance will impose a reassessment of homes to collect the ITP or successions

Hacienda, tired of see voided in court checks of values that makes taxpayers who have bought or inherited a House at a price below what they estimated, it envisages the creation of a reassessment of property that is taxable the ITP and the inheritance tax. I.e., the reference value will not be laid down in the Scriptures and will become one drawn up by the land registry and calculated from prices of transactions of real estate, among other sources.

Thus it is contemplated in the draft law on measures of prevention in the fight against the fraud Prosecutor who has become known and that calls for modifying the tax base of the JTPAJD and the ISyD, as stresses José María Salcedo, partner of the law firm legal attic.

In this way, the tax base of these two taxes will no longer be the real value of real estate, but its market value, understood as the most probable price which could sell the property, between independent parties.

In fact, Castilla-La Mancha from 2015 already uses this new reference value to motivate their checks of values.

"The problem is not, in any case, finance and land registry will have invented a new method to assess real estate without leaving the office, and without visiting them. The real problem is that now finance seeks to impose this value to taxpayers by force, "says Salcedo.

And it is that in the majority of checks of values that are autonomous houses purchased or inherited estates not you consider real estate-specific circumstances. "They never, or rarely visited, and valuations are made from the Chair's office. And the courts nullify them by generic, and does not reflect the real value of the property,"added the lawyer, who recalls that the Treasury intends to continue valuing real estate without visiting them. With legal modification that intends to pass, the ball will be on the roof of the taxpayer, although Treasury has not visited the property.

And it is that for real estate has been established a presumption that "the market value is the reference of the General Directorate of the cadastre market value". This presumption is the so-called "iuris tantum". I.e. admits evidence to the contrary.

This means that the taxpayer will be who has to prove that the checked property has a market value less than the new value of reference drawn up by the land registry. In this case, must resort settlement issued by the corresponding regional administration. And usually will provide an expert report, showing that the property has a value less than that results from land registry, as remember Salcedo.

This reassessment affects who

Not only will affect those taxpayers who have bought or inherited a property and have declared it in the ITP, or in the ISyD below which estimated regional finances, but also vendors, if the checked value is higher than that stated in the income tax.

Hacienda shall also notify them new proven value, if they want to challenge it. And this, so this new value does not affect the equity gain declared in their income tax.

Taxpayers can do

If one gets to approve this important change in the way collect the ITP and ISyD, taxpayers may provide proof to demonstrate that the price that bought or inherited is the market value isn't the cadastral reference value.

"This test will be one expert. But also the State of the property, or its poor conservation, may be established if it is the case. In addition, you can justification provided for transmissions of similar properties that are known, and even offers published in real estate portal", says Salcedo.