What is the cadastre?
It is a registry that depends on the State that contains the description of urban, rural and special characteristics real estate, it consists of or has the objective of determining the fiscal or cadastral value of the properties and the constructions or modifications attached to it.
What is a Cadastral Appraisal?
It is the valuation of a property to update the lien that generates the obligation for the right to a property, these obligations or taxes are also the property tax, the ISAI or Property Acquisition Tax and the ISR or Income Tax.
What is a Cadastral Appraisal used for?
Cadastral Appraisals are used to determine the cadastral value of a property. property for purposes of determining the Taxable Base to calculate the amount of payment of taxes and duties on said real estate, which is also known as property.
This can attract positive implications for us to pay less in case we have an unbalanced tax due to the power to study the proportions to the property and area, also for tax deduction purposes and in general for use in our annual returns.
When should a cadastral appraisal be carried out?
It is necessary when an inconsistency is recognized between the data that is registered such as the characteristics of the property and those that appear in the cadastre, this in order to adjust the taxable base and, consequently, adjust the amount paid in property tax. . It is normally requested by companies seeking to know the value of the land they are on and the taxes they must pay, and it is also requested by the municipal government of the area.
What are the benefits of hiring a cadastral appraiser?
It allows to determine in a sustained way the cadastral characteristics of the property, which are:
|Determine the cadastral value of real estate and land||Based on the cadastral value, determine the property tax payable|
|Have a document that supports the amount of tax to be paid.||Make payments for the correct amount.|
|Comply with a Treasury requirement.||Fill out the draft form of the Treasury.|
|Proper investment of your time and money.||Saving money in your company.|
For later modification in the Property Tax Register.
How is its value calculated?
The Cadastral Appraisal uses only one valuation method: Cost Method:
This method calculates the value of the land, special facilities, constructions, accessory elements and, if they exist, complementary works. The calculation is made based on the unit values of land and construction established in Tax Code of Mexico City valid for the current year. This approach is similar to the Physical or Direct Approach.
How long is a cadastral appraisal valid?
In general, the validity of a Cadastral Appraisal is one year, because it is used for the payment of annual taxes and as long as the property does not undergo modifications during the administrative procedures and the economic conditions are identical to those in which it was registered. performed the appraisal.
What are the requirements to apply?
Documentation that certifies the authenticity of the property is required throughout the appraisal process, such as:
- copy deed
- Copy of property receipt
- Copy of water bill
- Copy of statement of completion of work
- Architectural plans (plans, sections and façade)
- Condominium regime in case they are condominium apartments and/or houses
What does the appraisal include?
Determination of cadastral value