Not so long ago in Russia, all real estate transactions were carried out only based on market and inventory value. The government decided to introduce the concept of cadastral value of an apartment. Market and cadastral values have now become two main concepts in valuation. This is due to the fact that market value is often set to bypass government structures, and inventory is calculated using complex algorithms, and therefore is often divorced from reality. It is necessary to understand the concept of "cadastral value of an apartment": what is it and how to find it out?
Destination
The main goal of this development was the payment of taxes that are intended to fill the budget in connection with the acquisition, use or sale of an apartment. Previously, this amount was determined by BTI as the inventory value of objects, and now the analysis suggests that this value is significantly underestimated in comparison with the market value of real estate, because of which noticeable financial injections from the population do not come into the budget. If we talk about how you can find out the cadastral value of the land or apartment, it should be noted that its calculation is made using a mathematical model, which takes into account the main factors of market information.
Cadastre
The price for the cadastre is indicated in the cadastral passport of the residential property. If you need to obtain a mortgage loan at a bank, sell or exchange an apartment, you must have on hand an official document confirming the cadastral value of the apartment. In a sales transaction, you have the right to a tax deduction provided 1 time.
Cadastral and inventory value: difference
Starting this year, tax payments are calculated only on the basis of the cadastral value. When calculating the cadastral value, the full range of construction costs, traditional coefficients recognized as the main ones, including the year of construction and the area of the apartment, are taken into account. The cadastral value is as close to the market value as possible, and the inventory value is often 10 times lower, which leaves its mark on its use. Depending on the region of the country, the cadastral value indicator can vary greatly. This can be explained by only one factor: not all regional Real Estate Appraisal Departments have the authority to add the price of the land on which the property is located to the cadastral value. This type of calculation equates this indicator with the inventory price. When the price of land is taken into account, the price tag increases by about 70%.
The answer to the question of how to calculate the cadastral value of your apartment will be as follows: it is necessary to determine what indicators are included in the calculation when assessing in a specific region of the country. In this case, you can expect to receive a more or less accurate answer.
The main differences from market value
If the owner is faced with the task of selling real estate or mortgaging it in a bank, then the real price tag usually serves as the source data for him. Despite the fact that the cadastral value is intended to fully comply with the market value, it very often does not completely reflect the current situation. The market value is designed to complete the list of transactions, and the cadastral value is not always needed, for example, when inheriting real estate, it is not necessary. In calculating the market value, the condition of the apartment at the time of sale must be taken into account, usually the level of value is determined by mutual agreement between the seller and the buyer. To obtain a documented assessment of market value, it is required that the owner turn to the services of independent appraisers, in which case it will become clear what amount needs to be requested. If you figure out where to find out the cadastral value of an apartment, then this issue is usually resolved in the relevant authorities. For these purposes, there is a special register, which indicates the cost of housing based on the results of the assessment carried out by the cadastral authorities.
Getting a loan and real estate appraisal
You can order an examination of your own apartment from an independent appraiser who will issue a documentary opinion. It can be safely presented to buyers or employees of the banking sector. In this case, you do not need to solve the question of where to find out the cadastral value of the apartment, since you will already have the relevant document on hand. It is important to remember that when applying for a loan or a mortgage in a particular bank, you need to turn to the services of an appraisal company that is accredited at that institution. Her assessment will not depend on the results of already conducted by other expert structures.
Where can I find out the cadastral value of an apartment?
Within one city, housing prices often vary widely. Often the cadastral value of an individual apartment is formed depending on its location. If you decide where to find out the cadastral value of an apartment, then there are several ways to obtain the required information. The very first is to look in the cadastral passport, which is issued in the Cadastral Chamber. If some important operations were carried out with the apartment, then the eighth paragraph of the document must indicate the cost. You should know that if the price calculated before 2012 is indicated in the passport of the apartment, then it is no longer valid, therefore there is a need to order a new document.
So, when deciding on where to find out the cadastral value of an apartment, you should know and where you can order the release of a document containing this information. It's about the Rosreestr website. For this, a special form is presented there. The cadastral value will be determined as quickly as possible if the information about the apartment is accurately indicated. You should find a service with background information online, indicate the address of the apartment you are interested in, after which this object will be shown on the interactive map, and after clicking on it, the information you need will appear on the screen. All information will be presented in print form, but this is done for review, such a document does not have official force. Therefore, when deciding where to find out the cadastral value of an apartment, you must remember that you must contact the Rosreestr branch to obtain an official document.
Appeal to the Cadastral Chamber
If the document is received in this way, then it can be presented in a notary's office. The certificate is issued after the request is completed, during the working week, provided that you provide a package of necessary documents. In the usual manner, that is, within a week, a certificate is issued free of charge, however, if necessary, it is urgently necessary to pay for it.
The relationship between cadastral value and tax calculation
These two parameters are closely related. If the cost of the apartment by cadastre is more than 300 million rubles, then the regional authorities can decide to increase the tax rate to 1%. For apartments, the cost of which is less, the rate remains at around 0.1%. Many owners are interested in the cadastral value if they want to sell a privatized apartment that has been privately owned for less than 3 years. This is understandable, since the tax rate in this case is 13%. But if you want to sell the apartment below the cadastral value, the losses will be higher for you, since in this case, the powers of the tax authorities allow you to increase the tax on the sale transaction by 0.7 times the price in the inventory.
Cadastral value disputes
The last two years have been spent on titanic work to revise all cadastral value indicators for real estate in the regions. This was done due to a strong discrepancy with the real market situation. But in some regions, this caused an increase in the real price of a number of objects. If you wish, you can challenge the cadastral value if you are convinced that the assessment was not carried out correctly enough.