Today, Law No. 21,806 was published in the Official Gazette. Among its provisions, Article 72 stands out, as it establishes the postponement of the revaluation process, originally scheduled to enter into force on January 1st,2026.
The law suspends the real estate revaluations that were set to apply in 2026 for non‑agricultural properties, and in 2028 for agricultural properties. These revaluations will now take effect on January 1st,2027, and January 1st, 2029, respectively.
Additionally, the law extends the validity of the current appraisals until December 31st,2026 for non‑agricultural properties, and until December 31st,2028 for agricultural properties.
Prior to the publication of Law No. 21,806, the Chilean Internal Revenue Service (SII, for its initials in Spanish) issued Resolution No. 209 of 2025, which set the land and construction values for the revaluation process applicable to non‑agricultural properties scheduled to begin on January 1st, 2026.
Unexpectedly, the Resolution established construction values that were generally lower than those used in the previous revaluation process (in force from 2022 to 2025). As for land values, they have not yet been published, amid concerns regarding the opacity of the process and the criteria applied by the SII for valuation purposes.
Given the postponement of the revaluation, the Chilean IRS set aside Resolution No. 209, extending the validity of the current appraisals until 2027.
As noted by our Director of Tax Controversy, Patricio Casas, the criteria used by the Chilean IRS to determine appraisals remain in force and allow taxpayers to evaluate whether a review is appropriate when the revaluation does not accurately reflect the characteristics of the property. This information is available in this note.
For more information and/or advice on this matter, you may contact our Tax Controversy team.