This signals the last stretch to the finalisation of the new values assigned to properties that will allow the City to generate rates on an equitable basis. The City of Johannesburg’s Valuer handed over the roll, which is made up of 812 769 properties with an estimated value of over R916 billion.
The roll will be opened for public inspection and objection from 20 February to 3 May 2013.
“Though the handover is a legal formality required by the Municipal Property Rates Act 6 of 2004, it signals the last stretch to finalising the General Valuation Roll, which comes into effect on 1 July,” said City spokesman Stanley Maphologela.
The latest valuation project determines the market value of all properties as of 2 July 2012 and indicates the most probable price a property would realise if sold on the open market by willing parties.
Maphologela added that all property owners would be informed of their new values in their February municipal account statements.
“The notice, formally known as a Section 49 Notice, informs property owners of the amount at which their property has been valued as on 2 July 2012 by the Municipal Valuer and entered in the new valuation roll.”
“If you are satisfied that this figure represents the market value of your property as at 2 July 2012, you need not take any action. Should you feel that your property has been over- or under-valued, you may lodge an objection, a process that will be detailed along with the Section 49 Notice in your monthly statement,” Maphologela explained.
No viewing or objections will be entertained before February 20.
