An incorrect municipal valuation of your property could see you paying inflated rates - with no recourse unless you object to the incorrect valuation.
Johan van Aswegen, a property legal expert with valuers Rode & Associates, says all property in the City of Johannesburg will be taxed on a new basis now that the general valuation has been completed.
Rode & Associates is a firm of property economists and one of the largest valuation companies in South Africa.
Van Aswegen says the basis for calculating rates will be changed to include any improvements made to the property. The result could be higher rates for properties that have been improved over the past few years, while owners of vacant stands will probably pay less.
Property owners will have to check the valuation roll kept at local councils and object if they feel the valuation is too high.
"The quicker the better, since the deadline for objections is July 31 2001," Van Aswegen says.
He calculated that on a property valued by R50 000 too much, the owner would over-pay by up to R100 in rates a month.
Valuations will be reviewed every four years, and only then will they be corrected if the valuation is found to be unjust.
In the meantime, however, the owner will not receive a refund, Van Aswegen says.
Property owners first have to object, and if your objection is unsuccessful, you will have to lodge an appeal against the valuation.
Having an objection and appeal handled by an established and respected firm will certainly strengthen your objection, he says.
A check on the valuation, and the lodging of an objection and appeal would amount to a fraction of the annual rates and taxes paid on a property. For instance, the fee for an average-sized residential property will typically come to around R300.