Reference value and its new regulation. Legal Regulations. Its importance in Spain with the transaction with real estate assets: purchase, selling, etc

Reference value and its legal regulation.

In many common transactions carried out by our clients it is important to know the reference value of the property.  On the purchase, sale, inheritance, etc. In this article we will discuss what the reference value and its new regulation is. We will give an overview of the main questions we are confronted with on a day-to-day basis.

What is the reference value and how is it determined?

The reference value is the value determined by the General Directorate of Cadastre and is determined after analysing the prices of property sales and purchases made before a notary. This value is one of the economic characteristics of the cadastral description of the real estate.

In order that the reference value does not exceed the market value, a reduction value is applied in its determination.

Can I check the reference value of my property?

Yes, you can check it at the website of the Cadastre ( In order to consult the value, the applicant must identify himself/herself with a digital certificate, or through Cl@ve and using the details of his/her DNI (National Identity Card).

You can also find out which elements have been applied in the individualised determination of the reference value of your property.

You can also contact the cadastre by telephone or by appointment at the Gerencias del Catastro.

Is it possible to challenge a value of the cadastre?

Not always. It can only be challenged if this value is going to have any fiscal effect, and it is the taxable base for the Taxes on Property Transfer and Documented Legal Acts or on Inheritance and Donations Tax. It will be challenged before the corresponding Tax Administration, when the self-assessments or appeals against the liquidations are presented.

 New legal regulation

If we talk about reference value and its new regulation, we have to talk about the Anti-Fraud Law. With the entry into force of the Anti-Fraud Law (Law 11/2021 of 9 July), the reference value must be taken into account for Stamp Duty and Gift Tax (ITPyAJD) and Inheritance and Gift Tax (ISD). If the declared value or the value paid is higher than the reference value, the declared value will be taken into account.

This new regulation articulates a system of modules for calculating the value of real estate based on, as we said, the statistics that come from notarial communications. However, it does not take into account the particularities of each property (improvement works, state of conservation, etc).

Are there differences between the cadastral value and the reference value?

The cadastral value of real estate is updated by the General State Budget Laws. It serves as the basis for the IBI. It is protected data and is not published.

On the other hand, the reference one, it is not protected and can be consulted as indicated above.


If you need more information on what the reference value is, how to obtain it or its practical application, do not hesitate to contact us.

The information provided in this article is not intended as legal advice, but simply

Carlos Baos (Lawyer)

White & Baos.

Tel: +34 966 426 185


White & Baos 2022 – All Rights Reserved.

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