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Own a residential property in Cape Town valued under R5m? You could qualify for property rates relief

The City of Cape Town’s General Valuation Roll 2022 (GVR2022) i.e., its new rates estimate calculator, is now open for public inspection until the 30th of April 2023 electronically or the 31st of March 2023 at 30 inspection venues across the city.

According to the City, more than 80% (740 000 residential properties) of the total rateable properties of 909 000 in the GVR2022 qualify for rates relief.

Council has passed a proposed 52% rates relief increase for residential properties valued at R5 million and under.

The first R450 000 of the property value for residential properties valued at R5 million and under will now be rates free, which represents a R150 000 increase to this exemption benefit to assist lower-and-middle income ratepayers.

Residential properties valued higher than R5 million will receive the legislated reduction of R15 000 of the property before rates are calculated.

A reduction in the residential rate-in-the-Rand for residential properties is also proposed, from the current 0,006344 to 0,006273 for 2023/2024.

More pensioners and social grant recipients are expected to benefit from rates rebates by the raising of the qualifying limit from R17 500 to R22 000 total household income per month.

How to use the calculator for GV2022:

  1. Visit the City’s website.
  2. Enter the erf number or property address on the GV2022 Roll opening page.
  3. Select ‘Rates Estimation’ from the menu on the left of the screen of useful information available about the selected property.

To view a valuation, calculate the rates estimate, or to lodge objections click here.