The City of Cape Town has reminded property owners to view the latest General Valuations Roll 2022 (GVR 2022) which is open for electronic objections until the 30th of April 2023.
Property owners are also able to access the new rates estimate calculator.
GVR 2022 has been subjected to an independent assurance review by the International Property Tax Institute which found it to be a fair and equitable base for levying property rates.
Objections can be submitted via email or e-services on the City’s website – only well-motivated objections will be considered based on comparable sales around the valuation date of the 1st of July 2022.
According to the City’s Mayoral Committee Member for Finance, Councillor Siseko Mbandezi, a lot of work has gone into looking at affordability and assistance to ratepayers. “It has thus been proposed that residential properties of R5 million and under would have no rates payable on the first R450 000. Over 700 000 properties in the metro are expected to benefit, representing 80% of all properties in our city.”
“‘There are also relief options proposed for lower valued properties. 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 from the 1st of July 2023. Applications may be submitted to the City from the 1st of June 2023”.
A note from the City: the accurate and fair market value is determined by comparable sales information around the valuation date in most cases. This is the basis for objections.
How to use the rates estimate calculator:
- Visit: www.capetown.gov.za/GV2022 (there is also a trending box on the City’s website landing page).
- Enter the erf number or property address on the GV 2022 Roll opening page.
- Select ‘Rates Estimation’ from the menu on the left of the screen of useful information available about the selected property.