The Internal Revenue Service has received a series of criticisms pointing to the lack of transparency in how it determines property values.
Property tax revenues in Chile increased by nearly 11%, marking the fourth consecutive year of growth. At the same time, experts have raised concerns about the lack of clarity regarding how the Internal Revenue Service (SII) determines property valuations.
This opacity in the calculation also frustrates citizens, as reflected in a series of letters to El Mercurio, particularly as the due date for the first property tax installment of the year approaches.
The most recent reassessment of non-agricultural properties took place in 2022, with the next one scheduled for 2026, which will imply a new tax burden distributed across the country. Currently, over 40% of properties are subject to property tax, and ahead of the next reassessment, experts are calling for changes.
However, a new controversy has arisen following multiple complaints claiming there is no clarity on how the SII determines real estate values.
“There are no objective and public parameters for property valuations,” criticized Javier Jaque, Managing Partner of CCL Auditores Consultores, in El Mercurio.
Meanwhile, Andrés Martínez, Head of Tax Consulting at KPMG in Chile, stated: “Sometimes the specific criteria used for valuations are not entirely clear to property owners, and the availability of data remains limited.”
But how can I check the fiscal valuation of my property?
Sebastián Moraga, associate lawyer at Moraga & Cía, explained that the quickest way is to access the SII website, www.sii.cl, where users can view the valuation of all properties registered under their name.
By navigating to “Online Services,” which provides access to various tax-related procedures.
Then, users must select “Property Valuations and Real Estate Taxes,” which groups tools related to property taxation. Next, they should choose “My Real Estate (integrated information).”
In this section, four options are available: “View my properties,” “View fiscal valuation certificate,” “View property background information,” and “Digital agent.”
By selecting the second option, users can search for a property using their tax password or unique key and then consult or download the corresponding certificates, which include the fiscal valuation of the property.
It is also possible to search by property ID (ROL) or address in the “View fiscal valuation certificate” section, where users can obtain valuation certificates and other relevant information.
If the assigned valuation is considered incorrect, Moraga noted that property owners may request a review through an administrative appeal before the SII or file a claim before the Tax and Customs Court (TTA).
The administrative appeal must be submitted within 30 business days following the publication of the valuation roll at the municipality, while claims before the TTA can be filed within 180 business days.