What you should know about the valuation roll

WHAT IS THE GENERAL VALUATION ROLL?

It is a legal document that consists of property information of all ratable properties within the boundaries of the municipality. It is produced according to the Municipal Property Rates Act 6 of 2004 which says that valuations must be done every four years.

Also read:

Ekurhuleni’s new valuation roll opens for inspection on March 8

Gratis hulp vir oues om rabatte in te dien

WHAT IS MARKET VALUE?

The highest price a willing buyer would pay and a willing seller would accept, both being fully informed, and the property being exposed for sale for a reasonable period. The market value may be different from the price a property can be sold for at a given time (market price).

WHAT IS THE PURPOSE OF THE VALUATION ROLL?

To determine a fair value of all properties. In some instances, the rates may go up while in others the rates may come down. It must also be remembered that many properties that have not been valued in the past will all now be valued and incorporated into the valuation roll.

The rates calculated for all properties will be determined from time to time by the rating policy, as well as how properties will be categorised.

HOW IS PROPERTY VALUATED?

There are about 700 000 properties in Ekurhuleni. They fall into two main categories – residential and non-residential.

The residential valuation is based on market value. For non-residential it is only calculated on the ‘willing seller, willing buyer’ principle.

Income-producing properties also consider factors such as market rentals, occupancy and vacancy levels, operating expenses and capitalisation rates.

Other non-residential properties, like schools and churches, are valued at building costs less depreciation. These are normally properties that do not sell on the open market.

Factors that influence the value of your property include location, condition of the property and size of the building.

WHAT IF I DON’T AGREE WITH THE VALUATION?

You can lodge an objection against the value, or any entry in the valuation roll that is captured incorrectly, from March 8 to June 5.

WHAT IF I AM NOT HAPPY WITH THE OBJECTION OUTCOME?

You can lodge an appeal within 30 days of receiving the outcome letter of objections. The appeal is heard by the Valuation Appeal Board.

DID THE MUNICIPALITY INSPECT EVERY PROPERTY WITHIN EKURHULENI?

With about 700 000 properties in Ekurhuleni that must be included on the valuation roll, it is impossible to gain access to all properties within a year.

However, because it is a mass valuation, the city uses tools such as pictometry, GIS, aerial photos and views of some areas to determine value on those properties. In the 2017-2021 term, about 40 per cent of residential properties were inspected and all businesses.

The Act makes provision for this.

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