Córdoba, a city steeped in history and tradition, does not escape the implementation of the Municipal Capital Gains Tax, a tribute that influences the increase in the value of urban land. This tax, optional for each municipality, becomes a key element in the collection of many municipalities, being applied when transferring a property, even in free transactions.
Specific Calculation for Córdoba:
The calculation of this tax in Córdoba is carried out considering the cadastral value of the land, the years elapsed since the last transfer, the specific municipal coefficients for the city and the tax rate established by the Córdoba City Council. A process that seeks to objectiveize the increase in land value in this historic city.
Application in Different Scenarios:
- Inheritances: In cases of inheritance, the heir assumes responsibility for this tax.
- Buy and sell: In purchase and sale transactions, the selling party is responsible for paying the Municipal Capital Gains.
- Donations: In the case of donations, the recipient of the property is the one who must settle the tax before the corresponding town hall.
Payment terms:
The tax must be paid within 30 business days from the official date of transmission, as reflected in the notarial act. In inheritance situations, this period extends up to six months from the date of death, extendable for an additional twelve months by written request in the first six months.
The Constitutional Court and Capital Gains:
Ruling 59/2017 of the Constitutional Court has marked a milestone by declaring certain articles related to Municipal Capital Gains null and unconstitutional, especially in situations where there is no increase in value.
Specific Focus in Córdoba:
In the city of Córdoba, the amount to be paid is determined by applying specific coefficients established by the municipal tax ordinance. In transfers related to deaths, the taxpayer can benefit from a tax bonus, especially if the primary residence is involved.
Tax Planning and Specialized Advice:
Given the complexity of the tax and its impact on real estate transactions, having specialized tax advisors becomes essential. Tax planning is presented as a key tool to maximize savings and reduce the fiscal impact of these operations in the city of Córdoba.
Notary in Córdoba: Relevance and Additional Considerations:
The notary, a central figure in the formalization of legal documents, plays a crucial role in real estate transactions in Córdoba. Although his presence is not mandatory in the purchase and sale of homes, he is essential in the signing of mortgages. Regarding notarial expenses, the Civil Code establishes a specific distribution that may vary depending on the nature of the transaction, making it vital to know these particularities, especially in the Córdoba context.
The conjunction of historical tradition and contemporary fiscal realities makes the understanding and effective management of Municipal Capital Gains in Córdoba essential for those involved in real estate transactions in this emblematic Andalusian city.
How to Calculate:
The calculation of Capital Gain in Córdoba is based on four fundamental elements:
- The cadastral value of the land.
- The period of years between the current and previous transmission.
- Specific municipal coefficients for the city.
- The tax rate established by the Córdoba City Council.
These factors combined determine the amount that must be paid to the City Council in the context of a real estate transaction.
How to contact the City Council of Córdoba? To call any service of the City Council of Córdoba, you can call either by dialing its direct telephone number, or by dialing 957 499 900 where an operator will assist you, and after an announcement, your call will be transferred manually.
How to communicate with the Municipality of Córdoba? In addition, the Municipality has a chatbot, a query channel through the web and a digital turntable, social networks and in-person service points in different places in the city. The interested party must add the telephone number 351-610-0444 to their contact list. and start the conversation.