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.
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1 comment:
There is no point waisting time reevaluating. Use an index and add on from the initial valuation. In the uk they work on the 1994 rates and just index it with a ratio as the years go on and also in line with property inflation and deflations. What an absolute waste of persons to do this. They would be better placed doing something else like monitoring the food prices and posing questions why in a recession pick and pay is making huge profits at the expense of peoples daily need for food.
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