What is the cadastre and why is it key to the economy and taxes
The cadastre is the updated inventory or census of real estate, both state-owned and private, which allows for its physical identification...
TL;DR
- The cadastral update in Medellín is vital for urban planning, property tax collection, and legal security of property.
- It involves identifying, valuing, and organizing properties, encompassing physical, legal, and economic aspects.
- The process is being carried out by the Municipal Administration through the Undersecretariat of Cadastre.
- The update covers all properties in the municipality, including its five sub-districts, to maintain an updated real estate inventory.
- A multi-phase update is underway, starting with a pre-census and followed by the cadastral census in specific areas.
- The cadastral value serves as the basis for calculating unified property taxes.
- An updated cadastral record can lead to variations in the unified property tax.