GEORGE NEWS - A local ratepayer who owns four properties in George has experienced property value increases of 85%, 65%, 52% and 50% respectively on the George Municipality's latest valuation roll.
She now fears for the increase in rates she will have to cough up.
According to Bert White of Meridian Realty, an estate agent who sells property in the Garden Route, property prices in the area have on average increased by between 40 to 50% since the last municipal property valuations were done, but the municipal rates and taxes should not be increased by so much.
"The normal increase should be according to inflation, say about 8% per year. This means that the increases on the valuation roll should not be above 35%. However, the municipality is also supposed to compare the values with the market value, which has skyrocketed due to the influx of new residents and resultant shortage in properties."
Quintus Neethling, a local property valuer, says the concerned ratepayer can use the current rates factor to determine her property rates (0,008219 for residential and 0,0011596 for business and commercial properties).
"But she must remember that the municipality's budget will determine what the new factor will be. It can increase or drop a little so that property owners pay approximately the same as they are now. The new rates will be applicable from 1 July."
George Municipality commented as follows: "The general valuation values that have been published reflect the latest market values of properties in George and in general indicate a sharp increase from the previous general valuation roll. The rate that will be taxed on these new values has not been determined yet and will be communicated in due course after submission to Council for approval."
The municipality said residents are encouraged to contact the valuations section of the municipality and to follow the prescribed processes concerning their property valuations. Contact Anita Scheepers/Mimi Conradie/Clark Lesibanie on 044 801 9111 or email: valuations@george.gov.za.
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