How to check your property's reference value

Key steps to check the cadastral reference value

The procedure for checking the official valuation of a property is carried out online and is available immediately. The Directorate-General for Cadastre updates these data every year based on the transaction prices of sale agreements executed before a notary in each territorial area.

1. Access the Cadastre Electronic Office: Enter the official Cadastre portal and go to the specific section called Valor de referencia.
2. Select the search option: Choose the option for searching the reference value or issuing certificates for a specific property.
3. Authenticate using a digital system: Authenticate using your individual digital certificate, electronic DNI or the Cl@ve platform.
4. Enter the cadastral reference and date: Enter the 20-character alphanumeric code identifying the property and indicate the required tax point date, which usually coincides with the current date or the date the transaction is settled.
5. Download the document or report: Download the official certificate electronically signed by the administration, which states the fixed amount in euros serving as the tax base for tax purposes.

Data and requirements needed to perform the search

To complete the procedure to check the reference value without interruptions or system errors, you need to gather a series of basic items before starting:

• Full cadastral reference: This can be obtained by checking a Property Tax (IBI) receipt, the property title deed, or by using the interactive map on the Cadastre portal itself.
• Identity document: DNI, NIE or NIF of the owner or authorised person performing the search.
• Tax point date: To calculate taxes arising from a sale or gift, the tax point date determines the version of the value map applicable.
• Access to Cl@ve or digital certificate: As these are protected data, the system requires identity verification to issue the regulatory certificate.

What happens if a property does not have an assigned reference value?

There are specific circumstances in which the administration does not assign this parameter to a property. This usually occurs when insufficient property transactions have been recorded in the homogenous zone to prepare the technical module, on rural plots without a main building, or in properties with exceptional architectural or urban planning characteristics.

If the property does not have this figure in the Electronic Office, the tax is not cancelled. In these cases, the tax base for Property Transfer Tax (ITP) or Inheritance and Gift Tax (ISD) is determined by the value declared in the title deed or by the actual market value. The regional tax authority retains the right to verify the declared value using the means provided in the General Tax Law.

Differences between reference value, cadastral value and market value

It is common to confuse these three real estate economic terms, but each responds to different principles and regulatory purposes:

• Cadastral value: An administrative parameter set by each town council's valuation schedule, used to calculate periodic local taxes such as IBI. It remains fixed for long periods unless global revisions take place and cannot exceed market value.
• Reference value: A figure determined annually by the Cadastre based on actual notarised transaction prices. It does not affect IBI, but establishes the minimum tax base for property transfer tax and inheritance tax.
• Market value: The open-market sale price agreed between a buyer and a seller under normal real estate market conditions. It varies according to supply, demand, property condition and economic conditions.

Effects on taxation and mortgage financing

The value fixed by the Cadastre directly affects the total cost of buying a home. If the price agreed in the sale is lower than the official published value, the self-assessment for ITP must strictly be calculated on the higher amount fixed by the authority. Declaring a lower figure may trigger a supplementary assessment along with late-payment interest and administrative penalties.

In mortgage lending, the impact of this indicator varies depending on the structure of the transaction. While banks use official valuations to determine maximum loan-to-value limits, the tax value dictates the provision of funds required for taxes and notary fees. Working with mortgage brokers allows precise planning of the required capital, aligning tax costs with the overall mortgage amount.

Treatment of Subsidised Housing (VPO) in the Comunidad de Madrid

In the Comunidad de Madrid, Subsidised Housing (VPO) and Publicly Protected Housing (VPP) are subject to a specific tax regime due to legal price caps on their sale value.

When you check the reference value of a VPO located in the Comunidad de Madrid, regional regulations on maximum sale prices take precedence. If the figure assigned by the Cadastre exceeds the maximum legal price set in the corresponding cédula de calificación definitiva of the Comunidad de Madrid, the tax base cannot exceed that regulated cap. Taxpayers can justify this adjustment by submitting the protected housing documentation to the regional Ministry of Finance.

Frequently asked questions about reviewing and using the value

Is it possible to challenge the assigned reference value?

Yes, challenging the value is possible, but it can only be done when the corresponding tax (ITP or ISD) is settled. The procedure involves submitting a self-assessment based on the value the taxpayer considers accurate and filing an appeal for reversal or an economic-administrative claim requesting rectification, backed by valuation reports or expert assessments of the property's condition.

When is the information updated on the platform?

The Directorate-General for Cadastre publishes the updated value maps during the first few days of each calendar year, coming into force for all transactions completed from 1 January of that tax year.