Every new year, the Spanish government prints a list of municipalities which are due to revise the estimated values of registered properties for tax purposes, and in 2020 it’s Yaiza’s turn.
The catastro (register) is an important part of every local council’s money-raising activities, and complicated equations are used to calculate how much rises should be.
Yaiza has not updated its land values since 1999, and the co- efficent used for calculating the new values means that owners can expect a 3% increase in the official value of their property.
The revised value will then be the one that is used when calculating various taxes, including the IBI (municipal property tax) to inheritance tax.
