The cadastral income is determined by the government and is calculated based on the market value of the property. In areas where the housing market is strong and property values are high, the cadastral income will also be higher. Conversely, areas where property values are low will result in a lower cadastral income.
The location of the property is also a factor in determining the cadastral income. In urban areas, properties located in prime locations such as the city center or near public transportation will have a higher cadastral income compared to those located in the suburbs. The size of the land also plays a role in determining the cadastral income. Large properties are likely to have a higher cadastral income due to the potential income they can generate through agriculture, commercial or industrial activities.
Once the government determines the market value of the property, they will then apply a set percentage to determine the cadastral income. This percentage is known as the cadastral coefficient. The cadastral coefficient varies depending on the type of property, its location, and its use.
For example, properties used for residential purposes typically have a lower cadastral coefficient than commercial or industrial properties. In addition, properties located in high-end neighborhoods and tourist destinations typically have a higher cadastral coefficient than those located in less desirable areas.
Individuals in possession of a property can also object to the cadastral income if they believe that it is unfair or inaccurate. This can be done by filing an objection with the relevant tax authorities. Once the objection is received, the authorities will conduct a new appraisal of the property to determine if any adjustment is necessary.
In conclusion, the cadastral income is an important factor in determining property taxes in many countries. It is calculated based on several factors including the market value of the property, its location, and its size. Property owners who believe their cadastral income is inaccurate or unfair can file an objection and request that it be re-evaluated. Understanding how the cadastral income is calculated is important for property owners as it can impact the amount of property taxes they are required to pay.