50% increase on residents’ home valuations
The Newcastle Advertiser has already received complaints from residents, who claim the Valuation Roll has caused their property values to increase by as much as 50 per cent.
Residents are fuming as property values go through the roof.
On Tuesday (February 25), Newcastle Municipality released its 2019 General Valuation Roll, with updated property values coming into effect on July 1, and to be valid for the next five years.
The period for appeals and objection is open until April 12.
The Newcastle Advertiser has already received complaints from residents, who claim the Valuation Roll has caused their property values to increase by as much as 50 per cent.
Value adjustments will also impact consumer accounts from July.
Director of Financial Management, Asha Haripersad explained the General Valuation Roll update is undertaken every five years and described it as a ‘big process’.
“All consumers will receive a Section 49 notice explaining the new values on their properties. These have mostly increased due to the current property market.”
According to an official statement from the municipality, all properties were valued on a market value basis, described as ‘what a willing buyer shall pay to a willing seller’.’
This is in terms of the Municipal Properties Rates Act.
Haripersad said increased property values were likely to result in higher rates bills, in addition to the effect winter month electricity consumption and higher tariffs are expected to have on what residents pay for their services.
Residents will certainly feel the pinch as of July this year.
Haripersad said any objections to increases on the Valuation Roll could be made online (newcastle.gov.za or eserviceapp.evaluation.co.za/newcastle) or at the municipal Civic Center on Murchison Street.
“Residents can also object at Newcastle Mall or at Boxer in Madadeni and oSizweni during March and April. We want to be more accessible to the public and especially those who work full time.”
The Newcastle Advertiser also touched base with an official from Evaluations, the Durban-based company in charge of updating the General Valuation Roll.
This company has done similar work for other municipalities.
According to an official, the process of creating a valuation roll was based on sales information from one year prior (i.e. July 2, 2018) involved using comparative sales figures for individual properties from one year prior, compared to market sales.
These figures are available at the municipal rates hall (Civic Centre).
The official stated he had not seen any valuation increases of 50 per cent as claimed but urged residents with objections to provide a motivation and images to support a reduction in their property value.
“They should also provide details like erf number and street address,” he concluded.
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Email: Reveshni Douglas (Editor) at reveshni@caxton.co.za
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