Catastro is the analytical inventory and recording of real property located in a certain area. Its aim is to keep a census with all quantitative and qualitative characteristics of real estate in the area. Catastro is handle by the state´s treasury office in every state in Mexico (called Tesorería).
Catastro divide properties by areas and set values. These values are the basis to calculate yearly tax payment also known as predial payment. Catastro price equals the government price. It updates values at any change of property: ownership, usage or destiny. All changes have to be register at Catastro. This task is usually perform by notario after closing.
It was common in some parts in Mexico to use “catastro” prices instead of commercial price (the real price that you are paying for your property) at closing, just because the former deed used it.
So, if the deed of the property you want to buy has catastro price recorded, make sure the seller is aware of his responsibility to deal with it before your new deed is issued.
You should also know that along with the CFDI, for any further problem/procedure, your deed is the proof of what you have paid.
You could check Catastro valuation for a property in some predial receipts (yearly tax).
The previous information comes from one of the chapters of my online course “How to Buy Real Estate in Mexico“. If you would like to know more about purchasing property in this country, I reccomend that you check it out. You can find it on udemy here. You can also find my courses on Skillshare by clicking here.
