According to article 51.1.b) of General Tax Law, ORDER 5403, October 29, 2019 has been published. This order approved the coefficients to estimate the real estate value of urban properties in Canary Islands. All of this in the tax valuation of the taxable events field of Tax on Patrimonial Transmissions and Legal Actas and the Tax on Inheritance and Donations. This Order will come into effect on January 1, 2020.
For the estimation of the real value, the coefficients will be applied on the value reflected on the Property Register at the date of the taxable event. Click here to see Annex 2where the coefficients are published.
In case that, on the date of the taxable event and after this publication, the cadastral values of a municipality were updated, the coefficient to be applied is the one published in Annex 2, divided by the cadastral update coefficient published in the General Budget Law of the State for that municipalitiy and year.
For more information about the tax valuation, contact with our Tax Department.