CATHOLIC CHURCH ADDS 66 PROPERTIES TO PORTFOLIO

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Thne new Sacred Heart church in Torrevieja was build in 2009

The Catholic Church in the Valencia region increases its assets by 238 million euros in the last ten years with the addition of 66 properties.  The church at regional level now has 2,419 registered buildings worth about 618 million euros. They comprise of churches and temples, parish centres, rectories, office accommodation, cemeteries, schools, universities and even agricultural plots.

The information was provided just last week gathered from land registry data compiled by the Ministry of Finance and Public Administration. However, even though the value of the portfolio has increased by such a remarkable sum all of these properties are exempt from paying taxes.

From 2006 to 2011 the church sold 33 properties while from 2006 to 2007 it disposed of 16. The following year a further 9 properties were sold on and during the three years from 2009 to 2011 the church sold 8 more properties. At that point it had assets in 2,320 properties with a rateable value of 487 million euros.

From that time however, despite it being immersed in the economic crisis, the Church then began to add properties to its collection, bringing it to its present level of 2,419 registered buildings valued at 618 million euros.

 

 

 

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