Why are Cape Town property valuations being done so often?
Alderman Ian Neilson, Executive Deputy Mayor of the City of Cape Town says regular valuations are a good thing for all.
We've established a pattern to do it every three years. The law requires us to do it within five years but we believe more regular valuations are better becasue it picks up smaller adjustments in property values.Alderman Ian Neilson, Executive Deputy Mayor of the City of Cape Town
The question on homeowners minds is what will the impact of the new valuation be on their rates bill?
Alderman Neilson says they cannot provide those numbers just yet as the draft budget has not been tabled.
But as far as valuation is concerned your ability to object to it has nothing to do with the rates you pay. It is about the market value of the property in August 2015Alderman Ian Neilson, Executive Deputy Mayor of the City of Cape Town
The process is driven by property professionals and valuers appointed by the City.
They us the sales data that they get from the deeds office so it is based on actual sales that have taken place during 2015.Alderman Ian Neilson, Executive Deputy Mayor of the City of Cape Town
For homeowners wanting assistance there are 17 stations and extensive online support available, says Alderman Neilson.