The National Planning Department (DNP) reported that the increase in cadastral appraisals for urban properties not formed and not updated in the 2022 term, will be 4.31 percent and for rural properties not formed and not updated in the term 2022, 3 percent.
This increase also is slightly above the inflation target and the adjustment was made in accordance with the law and in view of the sharp increase in the consumer price index.
Jorge Iván González, the director of the DNP said that since the issuance of the law that determined the annual increase in cadastral appraisals, their readjustment for urban properties has been the inflation target certified by the Banco de la Repúblicaconsidering that the difference between this and the variation of the CPI registered by the Dane had not exceeded 5 percentage points in a single year.
This is how it was defined in the first document of the Council for Economic and Social Policy (Conpes) took into account not only the inflation target but also the strong annual variation of the CPI determined by the Dane the previous year.
“For this year, the difference was 9.53 percentage points, so the national government is empowered to authorize an additional increase extraordinary. For this reason, it will need to take as an increase for urban properties not formed and not updated in 2022, the property valuation index, which stood at 4.31 percent,» González added.
González also said that “the excessive prices of agricultural inputs, the competitiveness of the sector and the factors of production (land leasing, agricultural elements, agricultural packaging and agricultural services) have increased the cost of food. In addition, the rural area has been seriously affected by the winter emergency. Because, in this first purchased Conpes that for rural properties not formed and not updated in force 2022, the increase corresponds to the inflation target, this is 3 percent,” he said.
The importance of the cadastral appraisal lies, among others, to be the basis for calculating property taxwhich constitutes one of the main sources of income for the regions that, in 2021, represented 34.3 percent of tax revenue for municipalities.
In the process of implementing the Multipurpose Cadastre policy, the director affirmed that “the Multipurpose Cadastre (urban and rural) has a huge delay. Only 9.4 percent of the properties have been reached. Updating the rural cadastre is essential for three reasons: First, it allows progress towards the consolidation of the land market. Second, it is an important instrument to influence the modification of factor relationships. Third, contribute to improving the tax revenues of the municipalities”, explained the director.
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