Cadastral reference value
The value the Cadastre assigns to every property, and since 2022 the minimum taxable base when buying it.
Detailed explanation
It is calculated each year from notarised sale prices in the area and cannot exceed market value. Since 1 January 2022 it is the taxable base for transfer tax and for inheritance and gift tax whenever it exceeds the price of the deal. It can be appealed, but the tax is paid first and argued afterwards, backed by your own appraisal.
Practical example
Two identical flats in the same block carry the same reference value even though one is occupied and the other is vacant: the Cadastre does not see the real condition of the property, and that is where the appeal begins.
When it matters
It sets the tax floor of the deal: below that figure, saving on price no longer means saving on tax.
At Arkos Investor
We pull the official reference value for every asset in the catalogue and put it next to our own valuation so you see both figures together.