News

Asset is an interactive monthly digital publication for the South African commercial property industry.

All over southern Africa, new urban-to-rural migration and settlement trends are emerging. Far from being abandoned, rural areas are in high demand.

Office valuations have barely budged since the pandemic despite many employees continuing to work from home.

eThekwini Metropolitan Municipality residents will face the sharpest tariff increases out of the country’s major metros if the city’s draft budget for 2023/24 is approved.

Mayor Mxolisi Kaunda recently tabled the municipality’s 2023/2024 budget and proposed a 21.91% electricity hike for businesses and households.

This discussion document examines three principle reasons as to why DRC value estimates are so often unrealistically high, and which can be attributed to valuers, not:

If the City of Johannesburg goes ahead with its proposed tariff hikes based on new property valuations, ratepayers could, in effect, be coughing up three times the rate of inflation

“This is a groundbreaking decision in the sense that the municipality is ordered to credit the accounts with the rates that were incorrectly levied,” says Ben Espach, valuations director at Rates Watch.

The ANC-run Msunduzi (Pietermaritzburg) local municipality in the KwaZulu-Natal Midlands has been given a bloody nose after the Pietermaritzburg High Court on Thursday set aside the 2019 valuation of some properties for rates levying purposes.

Residents of the City of Johannesburg will see a substantial increase in the cost of municipal services from 1 July if the draft medium-term budget tabled in council last week is anything to go by.

It is good news for property owners as the City extends the inspection and objection period for its General Valuation Roll (GVR) 2023 from 31 March to 5 May 2023.

Farmers in the Lydenburg area recently scored a major hit against Thaba Chweu Local Municipality (TCLM) when they won a case against excessive property taxes that the council had implemented.

This is a ground breaking decision in the sense that the municipality is ordered to credit the accounts with the rates that were incorrectly levied. In previous cases the actions of municipalities were found to be unlawfull, but they were not instructed to refund ratepayers.

SA’s largest commercial property owners are losing patience over municipalities charging more for services but providing less and less.

The property rates policy, municipal property rates by-law, annual budget and supplemented valuation roll set out below are declared to be unlawful and are set aside..