The Municipal Property Rates Act (No. 6 of 2004) indicates that all properties need to be valued at least every four years. The property must be valued at market value. The reason for the municipal valuation is to ensure that the Valuation Roll of the respective municipality stays up to date in order to apply a fair and clear municipal property rate/tax on your property.
The property rate/tax is calculated by multiplying the rate with the valuation done on the property. Municipal property rates are very important and essential to the sufficient functioning of a city or town.
Saying that it is also important for the consumer or property owner, to be aware of the true market value of their property, and if the applied rates/taxes are fair.
A Property owner can regularly do a self-check to see what the market indicates in that specific area, to see if the municipal valuation justifies the true value of the property.
To have piece in mind it is always better to obtain a comprehensive market valuation from a Professional Valuer.
Valworx (Pty) Ltd can assist consumers with:
- Comprehensive market valuations – keep informed and updated on the market value of your property.
- Objection and appeal process – assistance during the advertised objection period with the objections and appeal process.
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