City produces General Valuation Roll 2012

 The City of Cape Town, as part of its commitment to building a Well-run City, has produced the General Valuation Roll 2012 (GV 2012) in terms of the Local Government: Municipal Property Rates Act (Act 6 of 2004), national legislation that governs the valuation of properties.

The GV 2012 will be made available for inspection at 17 public inspection venues across the City. City officials will be available at these venues to assist members of the public who wish to inspect the valuation roll or submit an objection.

MEDIA RELEASE 


04 FEBRUARY 2013

The City of Cape Town, as part of its commitment to building a Well-run City, has produced the General Valuation Roll 2012 (GV 2012) in terms of the Local Government: Municipal Property Rates Act (Act 6 of 2004), national legislation that governs the valuation of properties.

The GV 2012 was signed off by the Municipal Valuer on 31 January 2013 and handed to the City manager.

There are 815 676 properties on the GV 2012 roll with a total value of R913 billion. This is an approximate increase of about 13% over the total value of the General Valuation in 2009. The number of properties has increased by 39 925 since 2009.

The GV 2012 has a valuation date of 1 July 2012, meaning that the properties are valued at the market rate on that date. Property rates based on the GV 2012 valuations will be billed from 1 July 2013.

Publishing the GV 2012 valuation roll includes:

  • Publishing a notice in the Provincial Gazette: This notice will be published on 8 February 2013.
  • Publishing notices in the local newspapers once a week for two consecutive weeks: these notices will be published on 15 and 21 February 2013.
  • Posting notices to the owner of every property that was valued on the GV 2012: individual notices will be posted by 19 February 2013.
  • Making the GV 2012 available for public inspection and objection: the period of public inspection and objection starts on 21 February 2013.
  • Arranging for an objection period of at least 30 days from the date of the last notice: the period for public inspection and objection ends on 30 April 2013.
  • Publishing the valuation roll on the City’s website: the GV 2012 will be available from 21 February 2013 at www.capetown.gov.za/propertyvaluationsad

 

Over and above the legislated requirements for publishing the valuation roll, the City has additional measures to increase public awareness of the GV 2012 by printing reminders about the objection period on rates accounts, by inserting brochures into rates accounts, and by publishing notices and articles in community newspapers.

The GV 2012 will be made available for inspection at 17 public inspection venues across the City. City officials will be available at these venues to assist members of the public who wish to inspect the valuation roll or submit an objection. Legislation allows any person to lodge an objection against the valuation of any property on the valuation roll if they believe that the valuation is incorrect.

An objection must be submitted on the prescribed objection form. The website (www.capetown.gov.za/propertyvaluations) contains instructions for downloading the prescribed objection form. Please note that the prescribed objection form must be completed in full to be considered valid.

An objection must be motivated well. Valuations on the GV 2012 were derived from sales that occurred around the valuation date (1 July 2012) and it is, therefore, best for an objector to motivate his or her objection by using information about sales which occurred around that date. Information about property sales have been made available on the City’s website and it will also be available at the public inspection venues. Objectors can use this information to identify the properties sold comparable to their own properties and to motivate their objections in this way.

Important: The objection starts on 21 February 2013 and ends on 30 April 2013. Late objections will not be accepted.

The City of Cape Town calculates property rates based on the valuation of properties in the municipality. These property valuations are recorded on a general valuation roll. In terms of legislation, a valuation roll remains valid for that specific financial year or for one or more subsequent financial years as determined by the municipality. A valuation roll may not, however, remain valid for more than four financial years.

The City believes it is better to conduct regular valuations as long periods between valuations result in the recording of significant changes in property values. The City has chosen to update the general valuation roll after three years since there have been changes in the property market during the intervening period.

The Municipal Property Rates Act states that properties must be valued at market value which it defines as “the amount the property would have realised if sold on the date of valuation in the open market by a willing seller to a willing buyer”.

Data on property sales that have taken place around the date of the general valuation are gathered and this information forms the basis for the assessments of the values of all properties. The City makes use of a computer modelling program (“computer-assisted mass appraisal” or CAMA) that uses sales data, aerial imagery and other property information (for example the property’s location, size, number of rooms, outbuildings, general condition, quality and view) to determine the value of a property. The results are then reviewed by property valuers and adjusted if necessary.

Property Owners should focus on whether their property valuation is correctly valued at the market-related value as at July 2012. The determination of rates per property will only be established when the cent in the rand and the initial value deduction is established. These processes will be tabled at the end of March, with the draft budget. However, impact of the valuation on rates is not a consideration in the valuation.  It is only the question of whether it is market related or not that is considered.

END

ISSUED BY:
INTEGRATED STRATEGIC COMMUNICATION AND BRANDING DEPARTMENT, CITY OF CAPE TOWN