Rates chaos: A R3 000 mansion?

2008-02-26 00:00

A newly-built city mansion, previously valued by the municipality at R1,298 million, is now valued at R3 000 on the new market-based property valuation roll.

This discrepancy is raising concerns about the extent of under-valuation on the roll.

Experts say extensive under-valuation could force the city council to increase their tariffs. This will mean that owners of normal and over-valued properties will have to pay much more.

Estate agents said owners of under-valued properties are unlikely to object, as a lower valuation means paying lower rates.

This will make it difficult to assess the extent of the problem. Agents say the objection process won’t be enough to clean up the roll and an overall review may be needed.

Ratepayers in the northern suburbs who believe their area has been over-valued will be holding a meeting at the Northdale Civic Centre tomorrow. The meeting starts at 7 pm.

There will also be a presentation and discussion tomorrow on the implementation of the Property Rates Act in the city. The meeting will be held in Chamber House at the Royal Showgrounds and starts at 5.15 pm.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.