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.

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