CITY OF CAPE TOWN - NEW RATES VALUATIONS
Many Cape Town property owners have already received their official property valuation notification from the City Council which reads as follows:
“The City of Cape Town has certified a new general valuation roll – GV2012.
The GV2012 public inspection and objection period runs from 21 February to 30 April 2013. If you dispute the value of your property then you may submit an objection. Only objections that are submitted to an official Valuations address will be accepted as valid. Objections must be well motivated.”
Wall and Smith Property Consultants have three valuers who are qualified to undertake the motivated objection process on behalf of property owners who’s properties have been overvalued. The procedure involves inspecting the property and carrying out the necessary market research to support the true value of the property as at 1 July 2012.
For residential and sectional title properties market value is based on comparable sales, while commercial and industrial properties are valued on the capitalised income (market related income) produced by the property, in conjunction with comparable sales.
The valuation fee will be determined by the size, complexity and location of the property concerned. Objections may be submitted from 21 February until 30 April 2013. This is a short period of 9 weeks, so if you are going to lodge an objection, then please begin the process immediately, early birds (up to 15 March 2013) will get a discount.
If you are not sure whether or not you should object, please contact Debbie Wall-Smith or Ray Bungay on 021 797 2552 of Wall & Smith Property Consultants for a quote to review the value and a subsequent objection if needed.
In addition to the mailed notices, on 21 February 2013 the City will publish the 2012 roll on their website http://www.capetown.gov.za/en/propertyvaluations/Pages/default.aspx
If you believe a property in your node has been substantially undervalued, you can visit an objection venue and ask the city to lodge an objection as a “council objection” or email firstname.lastname@example.org with “Error – please lodge council objection” in the subject line. If your neighbouring property values are low, this is not grounds for objecting to your own value. It is in the interests of every rate payer to ensure that the valuation roll is as accurate as possible.
Corrections/updates to postal addresses should be sent together with a copy of the property owner’s ID to email@example.com or firstname.lastname@example.org or faxed to 086 576 1568.
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