The City’s General Valuation Roll public inspection and objection process is running smoothly, with far fewer objections received to date than during previous valuations.
At the halfway mark of the public inspection period, about 10 000 objections had been received, which represents less than 2 % of all rateable properties. More than 30 000 objections had been received at the same point during the previous property valuation.
The general valuation of properties within the city’s boundaries is conducted at least once every four years, to ensure that rates are fair, up-to-date, and reflective of market values.
[ad#Google Adsense 125×125 Blog Post]The City completed the valuations process involving 780 000 properties with the use of its Computer Aided Mass Appraisal (CAMA) system. CAMA is a systematic process of valuing many properties on a given date using statistical procedures based on property sales and market conditions. This makes a physical inspection of the property unnecessary.
To assist ratepayers who are battling financially, last week the City proposed an increase of the primary rates rebate to R200 000, up from a previous rebate of R88 000 per residential unit. The assigned value rate will drop from 0.535 cents in the Rand to 0.531 cents in the Rand. Households with a monthly income of less than R3 000 may apply for a 100 percent rebate, while the cut-off for the senior citizens and disabled persons rate rebate will increase to a monthly household income of R8 500.
The Property Valuations website has been enhanced to include a ‘rates calculator’, allowing users to identify the new rates which will be payable on their properties.
A total of 18 public inspection centres will remain open until the end of April for property owners who believe their valuations are unfair or incorrect. Any person who is dissatisfied with any matter reflected or omitted from the valuation roll can also lodge an objection even if he/she does not own that property. Supporting information (such as recent sales data) must be attached to objections, as neither frivolous nor late objections will be entertained. The new rates will come into effect on 1 July 2010 and will be based on property valuations as at 1 July 2009.
There will be no extension to the objection deadline of 31 April 2010 and no objections will be accepted after this date. Any person who has not received a valuation notice for their property should contact the call centre immediately, as failure to receive a valuation notice is not a valid reason for missing the objection deadline.
More information is available from www.capetown.gov.za/propertyvaluations or 086 010 3089.