NELSON Mandela Bay Municipality’s valuation roll notices and the increased property values provided therein as well as the proposed increase in property rates, had numerous property owners shocked and pensioners concerned about the impact it will have on their finances.
It goes without saying that property valuations must be adjusted from time to time to reflect realistic values. Therefore, if a property’s value is assessed to have increased, the monthly property rates payable will increase proportionately.
“Having assisted several properties owners thus far with actual, current and comparable property prices, the increases applied to these properties, were exorbitant and most definitely not market related in any way,” said Charlotte Vermaak, Managing Principal Harcourts Mandela Bay|UD.
