Cape Town's Rates Debate

How much your property is really worth? Do you know how much you should be paying for rates?

Municipal rates are essential to the efficient functioning and maintenance of your home environment. Every one of us who owns a property is required to pay rates but there are many factors to be taken into consideration by the City of Cape Town to ensure that realistic values and subsequent equitable levies be charged on the diverse array of properties within its boundaries. A mammoth task considering there are over 780 000 rateable properties to consider.

Preliminary assessments have been made public and property owners now have the opportunity to challenge the amount pegged to their properties should they disagree. This process in itself will be problematic, considering that on the fair market, most values have depreciated over the past 18 months, while a nominal increase has been seen in the most recent months , it is hardly significant enough to take into consideration.

We suggest that owners do their homework carefully before submitting an objection. Contact a credible estate agent or independent certified valuer to view your property and provide you with all the relevant information you require to make an informed challenge. Capetonians have two months, as of 22 February, in which to challenge the municipal valuation of their property. After this period, says the City, objections will not be entertained. There are 18 rates evaluation inspection centres during the objection period, as well as a dedicated call centre.

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