The City Council of Orusco de Tajuña has approved the new Catastral Values Report of the municipality, which will result in an average 40% reduction in the cadastral value of urban properties.
This modification, which by Law should have already been carried out, comes after 16 years without changes and responds to the legal obligation to update these values to adapt them to the current market reality.
With the new report, the cadastral value of the set of urban properties in the municipality goes from 84 million euros to 53 million. Meanwhile, in the case of rustic land, the review represents a significant decrease: from 13.2 million to about 10 million euros.
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The measure, which was approved with the favorable votes of the PSOE Government team, while the Popular Party abstained and the representatives of Ciudadanos did not attend the plenary session, will come into effect next year, so that before the end of the year, all residents will receive a notification informing them of the new values, establishing a period for allegations.
This significant decrease in the overall value of the municipality’s properties by order of the Regional Cadastre Management will have a very negative impact on municipal revenues, so the City Council’s Intervention has decreed an increase in the IBI rate to 0.80% for Urban properties, and to 0.70% in the case of Rustic properties. An increase that, according to the analysis of municipal technicians, will not result in an increase in taxes for residents, but rather a slight reduction given the decrease in the cadastral value.
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This reduction in the IBI will not be the only one, those who own homes will also see a reduction in the IRPF they pay in their income tax return, while the Municipal Capital Gains Tax will also be reduced, implying lower fiscal costs for inheritances, donations, and property transfers.
The mayor Vanesa Gracia has emphasized that with this «balance between the decrease in the cadastral value and the increase in the rate, we achieve that residents pay fewer taxes, while at the same time maintaining essential public services».
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