BackThe National Court, in its ruling of January 11, 2024, addresses a case where the appellant argues that the market value of a property is the one established at the time of sale to third parties, without the need to revert the proceedings to the Cadastre for a new valuation. This assertion is based on a significant discrepancy of over €70,000,000.00 between the actual market value (€15,000,000.00) and the cadastral value of the property (€85,165,360.00), which, as argued, contravenes the principles of objectivity and specificity stipulated in Article 23 of the Consolidated Text of the Real Estate Cadastre Law (TR Ley del Catastro Inmobiliario).
However, the court considers it necessary to distinguish between the price stated in a deed of sale, which may be influenced by various factors unrelated to the real value of the property, and the market value of it. It is emphasized that the cadastral value cannot be determined solely by the price agreed upon in a sales contract, as the latter may be affected by additional agreements between the parties not reflected in the contractual document. Therefore, it is concluded that the market value of a property must be based on objective and generalizable criteria, independent of individual transactions.
The appellant justifies their argument about the discrepancy between the market value and the cadastral value in the sale of the property for €15,000,000.00, suggesting that this sale price lower than the cadastral value demonstrates that the latter exceeds the market value. However, the court rejects this premise, emphasizing that the sale price in a deed of sale does not necessarily reflect the true market value of the property, which must be determined through more objective and generalized criteria.
Regarding the calculation of the cadastral value in relation to the market value, it is argued that the RM coefficient does not simply imply half of the market value but is used to adjust the resulting cadastral value to the real market value. Therefore, this coefficient complements the technical formula in order to align the cadastral value with the reality of the real estate market.
In summary, the ruling dismisses the appeal by considering that the cadastral value of a property cannot be determined solely by the sale price established in a sales contract, but must be based on objective and generalizable criteria, independent of individual transactions.
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