The plenary session of the Santa Cruz City Council approved yesterday, initially, the modification of the ordinance that regulates the municipal capital gains tax, after the Supreme Court annulled the formula in which this tax was collected and forced public administrations to implement a new formula.
With the modification, the Consistory has adapted its ordinance to the Organic Law for the protection of orphans and victims of gender violence, which came into force on March 23, and which establishes that the children of women who died of gender violence They will not be subject to the payment of capital gains tax at the time of transferring the habitual residence.
In addition, as explained by the councilor for the Treasury, “two calculation methods are established, one by direct estimation, through cadastral values, and another through the interested party’s own purchase-sale documents, so that if the property in question has lost value, its owner will not have to pay the tax”.
Until the TS annulled the calculation of this tax, those affected had to pay the same regardless of whether there was a loss of value and claim a refund of the same if that reduction was demonstrated. Martínez recalled that this annulment has meant a 30% drop in municipal income.
