The is the value given to a by the land registry, and is used for several purposes, including determining property tax rates and sales prices. But how is this value calculated?

There are several factors that are taken into consideration when determining the cadastral value of a property. Firstly, the property’s location is examined, and its proximity to public services such as schools and hospitals is taken into account. This is because properties near these services tend to be more desirable, and therefore have a higher value.

The size and shape of the property is also important, as well as its characteristics such as the number of rooms and bathrooms, and interior and exterior features such as flooring and roofing. The age of the property and its historical significance may also be taken into account.

The cadastral value is calculated by multiplying the net of the property by a specific percentage set by the local authorities. The net income is determined by subtracting certain expenses such as maintenance costs and property taxes from the gross rental income.

To give an example, if a property has a net rental income of $10,000 and the local authorities have set the percentage at 5%, the cadastral value would be $200,000 (i.e. $10,000 x 0.05).

It’s important to note that the cadastral value is usually lower than the market value of the property. This is because the value is based on the income potential of the property, rather than its actual sale value. Factors such as supply and demand, location, and current market conditions are not directly taken into account when calculating the cadastral value.

The cadastral value is also subject to periodic reviews, and can be adjusted based on any changes to the property or its surrounding area. For example, if a property undergoes renovations or improvements, the cadastral value may be increased to reflect these changes.

In addition to property tax rates and sales prices, the cadastral value can also be used in other legal proceedings such as inheritance and divorce cases. It’s important to ensure that the cadastral value is accurate and up-to-date to avoid any discrepancies or legal issues.

In conclusion, the cadastral value is an important factor in determining property tax rates and sales prices, and is calculated based on the income potential of the property. Several factors are taken into account, including location, size, and characteristics of the property. While the cadastral value is usually lower than the market value, it’s important to ensure that its accuracy is maintained for legal and financial purposes.

Quest'articolo è stato scritto a titolo esclusivamente informativo e di divulgazione. Per esso non è possibile garantire che sia esente da errori o inesattezze, per cui l’amministratore di questo Sito non assume alcuna responsabilità come indicato nelle note legali pubblicate in Termini e Condizioni
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