Cape Town: General Valuation 2018
Category Market News
It's that time again when The City of Cape Town Valuation Office is preparing the GV2018 valuation roll which will be published in February 2019 for public inspection and objection. The City uses a property's value to calculate the monthly rates property owners should pay for their property. It is therefore of the utmost importance to check your new municipal valuation, as this will affect your cashflow whether you own residential, commercial or industrial property.
If an objection is not lodged within the required objection period, you may miss out on having your municipal valuation reduced. This valuation will impact on the rates and taxes you pay with effect 01 July 2019 and escalate effectively for the next three years. At Swindon Property, we have a team of qualified valuers who will provide a comprehensive report, motivate reductions and submit relevant documents to The City on your behalf. We have an exceptionally high success rate in reducing rates and we operate in all parts of the Cape Peninsula. If you are of the opinion that the municipal valuation may be too high, firstly ask yourself, would this be a realistic price to sell your property at, or do you believe the value is unachievable? If the latter, let us assist in reducing the amount to a market related value.
Property owners will be notified at the beginning of February 2019 and objections will be reviewed for a short period of time thereafter. Contact us as soon as possible so that we can begin the process for you in good time.
Author: Carolyn Archer