4.2.1. A) Urban property

In this section, the urban assets held by the declarant must be described.

Valuation RULES

Urban property, as well as rights to these assets acquired under multi-ownership contracts, part-time property or similar formulas, provided that they involve partial ownership of the property, will be counted using the highest value of the following three as a reference:

Cadastral value recorded in the bill corresponding to the year 2018 of the Property Tax.
Value verified by the Administration for the purposes of other taxes.
Price, consideration or acquisition value that will be the result of adding the cost of investments and improvements to the actual acquisition amount, as well as the expenses and taxes inherent to the acquisition, excluding interest, which have been paid by the acquirer.

Leased properties

Leased urban properties will be valued in accordance with the general rule mentioned above

However, the homes and business premises whose lease contracts have been concluded before 9 May 1985, will be valued they will capitalize on the annual accrued income at 4 per 100, when the result of this operation is lower than the valuation resulting from the application of the above rules.

For these purposes, the following formula may be used to calculate this capitalisation:

Capitalisation = annual accrued income * (100/4)

Bare ownership right

The value of the bare ownership right will be calculated by the difference between the total value of the asset and the value of the usufruct that has been constituted on it.

If the real right to the good is a usufruct life, which in turn temporary, the bare ownership will be valued, applying the usufruct valuation rules, which assign less value to the bare ownership.

To determine the value of the usufruct constituted on the asset, the valuation rules contained in section "M. Real rights of use and enjoyment.

Properties under construction

When the urban property is in the construction phase, the amounts that have been invested in this construction until the date of accrual of the Tax will be estimated as capital value, in addition to the corresponding capital value of the plot.

In the case of horizontal ownership, the proportional part in the value of the plot will be determined according to the percentage set in the title.

Completion

A1) Main residence

This section will state the taxpayer's main residence that meets the conditions for benefiting from the exemption tax accrual date up to the maximum amount of 300,000 euros.

Both the right of ownership in full control over the main residence, as well as the right of usufruct or other real right of use and enjoyment of the taxpayer (the latter rights must not be declared in the section "M. Real rights of use and enjoyment ").

In the column "Password", the ownership of the asset will be indicated in the following detail:

P: If the ownership of the property is in full ownership, even if this ownership is shared.
U: If the ownership of the property is constituted by a right of usufruct or other real right of use or enjoyment.

In the "Situation" column, you must select the one corresponding to the situation of the property from the following codes:

Key 1. Property with land registry reference located anywhere in Spain, except the Basque Country and Navarre.
Key 2. Property in the Autonomous Community of the Basque Country or in the Autonomous Community of Navarra.
Key 3. Property with any of the above statuses but without a land registry reference.
Key 4. Property located abroad.

In the column "Property Tax Reference", the one in the receipt of the Property Tax will be recorded.

The details of the situation of the property must also be entered: Public road, number, municipality and province.

In the column "Value", the total value of the main residence resulting from applying the valuation rules set out above will be indicated.

The programme will calculate the exempt value up to the maximum amount of 300,000 euros and, if applicable, show the non-exempt surplus in box 62.

A2) Other urban properties

This heading includes the rest of the urban properties of which the taxpayer is the holder, stating the following information:

In the column "Password", the ownership of the asset will be indicated in the following detail:

P: If the ownership of the property is in full ownership, even if this ownership is shared.
N: If the ownership of the property is constituted by the right of bare ownership over it.
M: If the ownership of the property is constituted by a right over it acquired under multi-ownership contracts, part-time ownership or similar formulas, provided that it entails the partial ownership of the asset.

If the right held does not entail the partial ownership of the asset, it must be declared in section "M. Real rights of use and enjoyment. "

In the column "Type", select the one corresponding to each urban property, according to the following details:

V: If it is housing
L: If it is premises
O: In the case of urban properties other than those mentioned above, such as plots.

In the "Situation" column, you must select the one corresponding to the situation of the property from the following codes:

Key 1. Property with land registry reference located anywhere in Spain, except the Basque Country and Navarre.
Key 2. Property in the Autonomous Community of the Basque Country or in the Autonomous Community of Navarra.
Key 3. Property with any of the above statuses but without a land registry reference.
Key 4. Property located abroad.

In the column "Property Tax Reference", the one in the receipt of the Property Tax will be recorded.

The details of your situation must also be entered for each property: Public road, number, municipality and province.

In the column "Value", the value of the property resulting from applying the valuation rules set out above will be indicated.