MUNICIPALITY VALUATION REVIEW IN CAPE TOWN
PUBLISHED 11 MAR 2019
Every municipality is legally required to
produce a General Valuation Roll (GRV) every four years. The city of Cape Town recently released the
latest valuation roll. Along with statistic analysts, data collectors and other
professional Valuers, ‘City Valuers’ are responsible for producing the GRV.
Valuation staff collects and reviews sales;
the sales data is then screened in the Computer-assisted Mass Appraisal (CAMA)
to value properties. To ensure fairness, an independent body audits the GVR
before it is released.
Property market value is calculated by
multiplying the value of a property by a cent amount in the rand. Depending on
the results of the valuation, household rates could be lowered, kept the same
and even raised. Raising rates supports
funding within the local municipality budget.
You can check your valuation on the City of Cape Town website. If your valuation does not appear there, it will most likely
be included in the Supplementary Valuation Roll (SVR) that is published every
year in July.
If you do not agree with the Valuation, you can
lodge an objection with the city and Valuation Appeal Board. To assess the current market value of your
property, our Property.CoZa agents would be happy to provide a free market
appraisal that can be used to support an objection with the City of Cape
Town. Our agents have the tools to use Deeds
Office data collected from other homes within your area, with a similar
configuration and price range, to evaluate its worth.