Cape Town residents prepare for new property evaluations
By Mandisi Tyulu
26 May 2009
The City of Cape Town has announced that it is preparing for the next general valuation of all properties in the metropolitan area.
Director of property evaluation Chris Gavor say the proposed date of the new valuation is the first of July this year. This will mean that the evaluation must reflect the market value of properties as at that date.
“The market value of a property is defined as the amount the property would have realised if sold on the date of evaluation in the open market.”
The general evaluation established this year will be implemented on the first of July 2010.