The Consortium has carried out an exhaustive analysis of each cost item to adjust the tax to what actually exists, which has meant a total reduction of 10% of this tax for all its equipment.
This action is complementary to the Viability Plan and will allow maintaining financial balance and achieving budget stability.
The Free Zone of Cádiz has achieved a reduction of the total amount of the Real Estate Tax (IBI) that it paid to the City Council of Cádiz by 10% thanks to the regularization of the cadastral value of the Altadis lands and buildings, a space in which it is Regularization has allowed the amount to be reduced by up to 37%.
This has been the result of an exhaustive analysis of the assets and the current real value, detecting some extra costs and elements that had to be extracted in order to adjust the tax to what actually exists. In this way, operating expenses that directly affect the marketing of assets and the market price are also alleviated.
It turns out that the Free Trade Zone paid a total of 1.3 million euros annually as IBI, due to the volume of properties owned by the Cádiz institution and the fact that this item had not been reviewed in years, nor the cadastral values. of buildings that have a situation different from that recorded in the records.
In this context, the first inventory of properties to be optimized corresponded to the land and buildings in Altadis, for which a regularization has been processed that has led to a reduction in the cadastral value of more than 17 million euros. This results in a decrease of more than 130,000 euros per year, specifically 37% less, from the 340,000 euros per year that were paid since 2016.
This regularization not only contributes to improving the results of the tax institution but will also mean a benefit that will impact current and future clients who opt for the facilities in this part of the tax area where the old Altadis was located.
The delegate Fran González has positively valued this new measure that follows the management line that is already bearing fruit this year both from a financial point of view and from the results of the trade balance, “optimizing resources in all areas of the Consortium to recover financial stability that allows us to develop actions aimed at strengthening the productive fabric of our province.”
In fact, this measure is part of a package of actions, complementary to the Viability Plan launched by the current management of the entity for the period 2021-2025, which aim to improve financial resources in order to maintain balance financial and achieve budgetary stability.
The Consortium will implement this measure for the future and will monitor the costs it bears for this tax, as well as a permanent update of the cadastral values of its properties with readjustments and regularizations that contribute to reducing its operating expenses and thus guarantee the profitability of its assets.
