The Directorate General of Taxes (DGT), which reports to the Ministry of Finance, has confirmed that inherited properties must be taxed at the cadastral reference value of the Cadastre, regardless of whether the value declared by the heirs is lower or even if the market value is higher.
This measure, in force since January 2022, continues to generate legal uncertainty and fiscal tensions, especially among citizens who inherit property without prior advice.
What does this criterion imply?
According to a recent ruling published by elEconomista.es, the Inland Revenue has forced a taxpayer to pay Inheritance and Gift Tax on 116,000 euros, the cadastral reference value, despite having declared only 104,000 euros. The market value was 210,000 euros, but that does not matter: the reference value is the minimum compulsory value for tax purposes.
This change has a direct impact on the heirs who:
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They are unaware of this criterion and submit their declaration incorrectly.
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Inherit properties in areas where the reference value exceeds market value
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They cannot bear the additional fiscal cost without proper planning.
What are the consequences for owners?
QUALITY KEYS INMOBILIARIOS has identified three main effects:
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Unexpected higher tax burden: Many heirs believe they are acting correctly, but the tax authorities demand an adjustment if the declared value is lower than the reference value.
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Legal uncertainty at a sensitive time: The inheritance process is already complex in itself, and this criterion introduces an additional factor of uncertainty.
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Impact on sale or holding decisions: A higher tax cost may motivate hasty sales or relinquishment of inheritances with low profitability.
Recommendations from real estate experience
In this scenario, the role of the real estate and tax professional is key. At QUALITY KEYS INMOBILIARIOS we recommend:
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Valuation prior to acceptance of inheritance: We compare the reference value with the market value in order to make informed decisions.
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Personalised tax advice: We analyse whether it is necessary to submit a complementary self-assessment or rectify errors before being penalised.
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Post-inheritance sale or rental plan: If the heir does not wish to keep the property, we prepare a cost-effective and efficient exit strategy.
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Review of encumbrances and documentation: We verify the property’s registration status to facilitate future transactions without legal obstacles.
Conclusion
This new tax criteria reinforces the need for expert support throughout the inheritance process. At QUALITY KEYS we not only market luxury properties, we also guide our clients in legal, patrimonial and fiscal aspects, offering real solutions with a strategic vision.
If you have inherited a property and don’t know where to start, we are here to help.
