Definition of property tax value

The tax or cadastral value of a property is the value assigned to it from the tax on real estate and is calculated taking into account the value of the land, the building and the index of exploitation in the relationship between the two.

In the economy and financial operations, the tax value of a property is considered as the one that results from the relationship between various variables and that is closely related to the property or building tax in a given municipal or state context.

It is worth starting by defining what is understood by property. As opposed to movable property, real estate is those that cannot be moved without occasions damage to them, insofar as their mobility is reduced as part of a land from which they are part. Among these, are considered houses, buildings, dwellings of all kinds, farms, ranches or the like and, in some cases, ships and aircraft in particular.

In this sense, the fiscal value of each property is understood as the economic value, which is assigned to it by a state agency through various valuations and indices.

In each context this may happen differently, but there is usually a methodology shared that facilitates tax valuation to scale massive. The assignment of fiscal value is intended to constitute a reference base for the payment of taxes on real estate properties and, in turn, can be used in the investigation on the real estate composition of a territory especially.

Often times, the methodology that determines the tax value of homes and buildings is calculated on the basis of the value of the land and the value of the property in question. The built-up land can also be valued in this way, such as a vacant lot, and here the consideration will be given by the area covered, the basic unit value and others. indicators of conjuncture.

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