With regard to urban real estate, classified as such under article 7 of the consolidated text of the Spanish Real Estate Cadastre Law, approved by Royal Decree-Law 1/2004, of March 5, as well as in the case of rural real estate with constructions that are not essential for the development of agricultural, livestock or forestry operations, not affected in both cases to economic activities, nor generators of income from capital, excluding the usual residence and non-built land, the amount that results from applying 2 percent to the cadastral value will be considered as imputed income, determined proportionally to the number of days that corresponds in each tax period.
In the case of properties located in municipalities in which the cadastral values have been reviewed, modified or determined through a general collective valuation procedure, pursuant to cadastral regulations, and have entered into force during the tax period or within the ten previous tax periods, the percentage will be 1.1 percent.
Where the property lacks cadastral value or this has not been notified to the owner on the date of accrual of the tax, the percentage will be 1.1 percent and it will be applied over 50 percent of the higher of the following values: Administration for the purposes of other taxes or the price, consideration or value of the acquisition.
In the case of properties under construction and in the cases in which, for urban planning reasons, the property is not susceptible of use, no income will be estimated.
Article 85.1, drafted by section fifty-seven of article one of Spanish Law 26/2014, of November 27, modifying Law 35/2006, of November 28, on Personal Income Tax, the consolidated text of the Non-Resident Income Tax Law, approved by Spanish Royal Decree-Law 5/2004, of March 5, and further tax regulations.
