‘Excessive’ hikes in municipal rates raise the ire of SA’s biggest property owners

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

The high rates and taxes charged by municipalities across South Africa have riled the country’s largest property owners, who have issued critical warnings about stepping away from large-scale real estate investments if the status quo continues.

Commercial property owners in South Africa’s R4.9-trillion real estate industry have again complained about mu­ni­cipalities hiking property rates and taxes while service delivery in some cities continues to deteriorate. It’s a long-standing issue and property owners are losing patience.

Read the full article on the Daily Maverick here.

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