Land valuation audit

AN ANALYSIS FOR OPTIMISING YOUR PROPERTY TAX BURDEN

Property values registered in the land registry determine the taxable base associated with the land value tax and its transfer. It may be that the assets are classified incorrectly or contain errors in their characteristics, increasing the tax burden on companies in respect to what actually corresponds to them. Contracting an audit certifying the correct records of assets can result in significant savings when paying taxes. Not only on an annual basis, but in the event of a possible transfer of the property (Increase in Value of Urban Land; Gifts), Property Transfer Tax and Inheritance and Gift Tax.

COMPANIES WITH MEDIUM-SIZE AND LARGE PROPERTIES

HOTEL, DISTRIBUTION AND INDUSTRIAL SECTORS, ETC.

ENTITIES WITH LAND PENDING ADMINISTRATIVE PROCESSES/PLANNING

OWNERS OF SPECIAL PROPERTIES
ENERGY PLANTS, AIRPORTS, REFINERIES, MOTORWAYS, ETC.

1. THE SITUATION.
A business owner in the automotive sector contacted Tinsa after receiving notification of the new cadastral values. These applied to four of his properties, and, as a result of a review of the municipality’s official table of values, increased their value by around 40%.

2. OUR SERVICES.
Tinsa performed a land valuation audit of the reported values for the four properties to verify the consistency of the parameters assigned by the land registry (applications, surfaces, qualities, etc.) and the physical reality of the property. The study revealed certain discrepancies.

3. THE RESULT.
Submitted technical reports and claims made it possible to reduce the tax burden from the initial €330,000/year to €110,000/year. Meaning, the client had an annual savings of over 33%.