4.2.2. B) Real estate of a rustic nature

In this section, rural property whose ownership belongs to the declarant must be declared.

Rules of assessment

Real estate of a rural nature will be computed taking as a reference the highest value of the following:

Cadastral value recorded on the receipt for the 2022 Real Estate Tax.
Value determined or verified by the Administration for the purposes of other taxes.
Price, consideration or acquisition value that will be the result of adding to the actual acquisition amount the cost of investments and improvements as well as expenses and taxes inherent to the acquisition, excluding interest, that have been paid by the purchaser.

Right of bare ownership

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

In the event that the real right that falls on the property is a life usufruct, which in turn is temporary, the bare ownership will be valued, applying the rules for valuing usufruct, that which attributes the lowest value to the bare ownership.

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

Completion

If you have to relate more elements than those contemplated in the program, you can declare them cumulatively in the last box. In this case you will only have to fill in the data relating to the description and the valuation.

In column "Key" the ownership of the asset will be indicated according to the following detail:

Q: If the ownership of the property is in full ownership, even if said 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 by virtue of timeshare contracts, part-time ownership or similar formulas, provided that they involve partial ownership of the property.

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

In the column corresponding to ownership, you will state the percentage you hold. If you have different rights over the same property, the completion will be done by differentiating the percentage of ownership of each of them and recording the data corresponding to each one; To do this, within the property, click on "add property".

In column "Situation" you must select from the following keys the one that corresponds to the situation of the property:

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.
Key 3. Property located in Navarra.
Key 4. Property without cadastral reference.
Key 5. Property located abroad.

In column “Cadastral reference” the one that appears on the Property Tax receipt will be entered.

Likewise, for each property, the data regarding its location must be recorded: public road, municipality and province.

In column "Value used" will reflect the key that corresponds to the valuation rule used.

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