Cape Town – The City of Cape Town’s General Valuation (GV) 2018 Roll is available on its website and is on display at various venues across the metro
The rate-in-the-rand will be published with the 2019/20 budget to be tabled at the end of March.
Given the average market-related increase of residential properties in Cape Town of 34% in the three years between the GV2015 and GV2018, a significantly lower rate-in-the-rand can be expected than the current rate.
In-person objections will be accepted until 29 March at the venues listed on the City’s website.
Online objections can be submitted electronically via the City’s e-services portal or via email until 30 April. No extensions for objections will be considered
The calculation of the rate-in-the-rand, which determines the rates a property owner will be paying from 1 July, will be published with the 2019/20 tabled budget.
It will go for public comment after the council meeting at the end of March, together with the rates policy, which sets out the 10 rating categories.
The revenue requirement for the 2019/20 budget is the main consideration when deciding on the rate-in-the-rand.
"The City will determine how much money it requires to provide the optimum range of services to its residents, as well as the likely provision that needs to be made for rebates and indigent support," said the City’s Mayoral Committee Member for Finance, Ian Neilson.
The City does not raise more money than is required to provide necessary services such as fire services, clinics, traffic services, libraries, cleaning and parks. There is no profit on municipal rates.
"Given the average market-related increase of residential properties in Cape Town of 34% in the three years between the GV2015 and GV2018, a significantly lower rate-in-the-rand can be expected than the current rate."
The rating categories in the proposed rates policy, which are in line with national regulations, are:
– Residential properties
– Business and commercial properties
– Industrial properties
– Agricultural properties (any agricultural property not used for bona fide farming does not fall within this category)
– Mining properties
– Properties owned by an organ of state that are used for public service purposes
– Public service infrastructure properties (PSI)
– Properties owned by public benefit organisations (PBOs) and used for specified public benefit activities
– Properties used for multiple purposes
– Vacant land
An indication of the rates payable for each category will be available on the City’s website in April, following the determination of the new rate-in-the-rand by council, based on the City’s budget requirements for the 2019/20 financial year.