Valuation of urban assets in Castilla-La Mancha

To obtain the reference value, the average market prices have been used, obtained following the methodology based on the annual report on the real estate market in Castilla-La Mancha provided by the General Directorate of the Cadastre under the collaboration agreement between the Ministry of Economy and Finance and the Autonomous Community of Castilla-La Mancha signed on 18 September 2008 (BOE No. 294 of 6 December), for the exchange of market research information and for the dissemination of cadastral information. This reference value is merely informative for the purposes of Inheritance and Donation Taxes and on Patrimonial Transmissions and Documented Legal Acts, not applicable in the following cases: a) For real estate of an urban nature whose predominant use, according to its cadastral classification, is NOT residential, warehouse-parking or industrial. For this purpose, the annexes and surfaces collected next to the main construction in the same cadastral reference shall be considered to be part of a single building, being considered as predominant use that of that construction. B) Where the value determined by that means is lower than the value declared by the person concerned or the price or consideration agreed in the legal act or business that gives rise to the taxable event. In such a case, the largest of these amounts will be taken as the taxable amount, in accordance with the provisions of Article 46.3 of the Consolidated Text of the Law on Tax on Patrimonial Transmissions and Documented Legal Acts, approved by Royal Legislative Decree 1/1993 of 24 September 1993 and Article 18.2 of Law 29/1987 of 18 December 1987 on Inheritance and Donation Tax. C) In goods in which the value declared or determined by the application of the average prices exceeds EUR 300.000. D) In the case of unbuilt land, underbuilt plots, buildings with buildings in a ruinous state in their entirety, or whose construction price resulting from the application of average prices is less than 20 percent of their total price. e) In singular buildings of a historical or artistic character. F) When the property to be valued is without cadastral reference. g) In the case of properties that have a maximum sale price fixed by the Administration, when the value determined by applying the average prices on the market is higher than the maximum price, if the latter will prevail. h) In the case of real estate that has a price established in judicial, notarial or administrative auction. where the transferor or the acquirer is a public administration, an autonomous body or any of the entities that are part of the public sector.