Commercial property rates increase

2015-08-26 06:00

A DECISION by eThekwini Metro­ Council to increase the rates charged on holiday letting is of concern to the tourism industry.

The chairperson of a block of flats with mostly holiday letting said the increase will most certainly have a negative effect on the industry, and owners are already considering selling their holiday flats.

“One of the major concerns is that property owners will have to increase their daily rates to survive and as a result­, tourists will go elsewhere on holiday.

“Also, new owners wanting to buy in a block of flats for holiday letting will likely rather buy elsewhere.

“This will be detrimental to the economy of Amanzimtoti which is largely a tourist town,” the chairperson said.

“The eThekwini Metro Council changed the definition of residential in its 2013/14 financial year to exclude commercial accommodation. The result of this change is that all residential properties used for holiday accommodation will be categorised as business commercial and pay business commercial tax,” said Cllr André Beetge.

Beetge said the owners were notified via letter.

The change-over process was already initiated during the previous year and various units are already re-categorised.

Owners of these units can apply for a rebate of 25% at any of the Metro offices - terms and conditions apply.

Property owners who were mistakenly charged should contact the eThekwini rates department to reverse the rate-code change

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