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New Property Municipal Valuations For Cape Town Homeowners - Objection 21 February To 30 April 2023

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New Property Municipal Valuations For Cape Town Homeowners - Objection 21 February To 30 April 2023

Category Home Owners

The new rates on the 2022 General Valuation Roll will open for inspection and objection on February 21 and will take effect from July 1. It will form the basis of property owners' rates assessments for the next four years.

All owners need to make themselves aware of the market value of their properties to ensure that the values determined by the City of Cape Town reflect a reasonable market value. Most of the revised valuations are conducted by a computer-aided mass appraisal system -so errors and irregularities may occur. Familiarising yourself with the new valuation as soon as you are notified of it by the City is very important. Alternatively visit the City Municipal Valuations Roll on www.capetown.gov.za , to ensure you are informed timeously.

Many cities worldwide use the same CAMA (Computer-assisted Mass Appraisal) software the City of Cape Town employs. It is applied by assistant municipal valuers, statistical analyst, and data collectors to get a valuation. It is however not a fool-proof system and there are various reasons why a particular property's valuation rates cannot be accurately determined by a software system that uses area averages.

There is a limited 60-day objection period from 21 February to 30 April 2023, so obtaining an independent and professional valuation of homeowner's properties as soon as possible is advisable to determine if any increase in the value of the property is fair. The City defines the market value as the amount the property would sell for in the open market on 1 July 2022.

Estate agents are area specialists and can assist a homeowner with recent sales in their area as part of a comparative market analysis of the value of their property - giving you the best "ammunition" for an objection.

Should a homeowner not agree with the City's valuation, it is best to submit your objection as soon as possible - so get in contact with one of a CCH member estate agents in your area.

They must also bear in mind that no rates are levied by the City on the first R300 000 of the value of a residential property.

If the City valuers identify a property as having undergone a change, they will physically inspect it. In such cases, any temporary or permanently employed data collector and/or municipal valuer can be identified by name, photograph, and City identification number, which can also be viewed on the City's official website.

Author CCH
Published 15 Feb 2023 / Views -
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