Saturday, February 20, 2010

City reassures ratepayers that property valuations are fair

By Khanyisa Tabata

20 February 2010

The City of Cape Town has assured ratepayers that the process of valuing their properties is fair and equitable.

Mayoral Committee Member for Finance, Alderman Ian Neilson, says that the process of setting rates has not yet begun, and is an entirely separate process to that of valuing properties.

“The rates process is set within a national framework set by national government. Property owners will only know their new rates bills in May.

“There are many scenarios that may impact on the differences between prior values and new values, such as additions, land status changes, conservative or excessive prior values,” said Ian Neilson.

An increase in a property value on its own does not necessarily imply an increase in one’s rates bill. A 60-day inspection and objection period will take place from February 22 to 30 April 2010.

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