Valor catastral

Every property in Spain has a cadastral value, set by the Catastro (the property census) from the land and the building. It is usually well below market value. It appears on the IBI receipt.

It is the base for IBI and for the imputed income that non-residents declare on Modelo 210 for a home they do not let: 1.1% or 2% of the cadastral value, depending on when the town's values were last revised. It is not the same as the Valor de referencia, which is used for transfer taxes.