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The cities of Johannesburg and Cape Town will be implementing new General Valuation Rolls in 2023, which will impact the rates and taxes paid by property owners.
The City of Joburg announced this week that it has received the latest General Valuation Roll for properties for 2023 and that residents should expect to pay different rates and taxes once it is implemented.
The roll will be implemented from 1 July 2023, it said.
Property base in the City of Johannesburg in 2023 has increased to over R1.5 trillion from over R1.4 trillion since 2018, when the last valuation was conducted, the city said.
The increase represents a 12% increase in the property base.
Rad the full article on Business Tech here.