New property valuations mean business

Madam,

I am sure that everybody has received their notices of the new municipal property valuations. It is strongly suggested that all property owners scrutinise their property valuations because it seems that on average property values have increased substantially, some in excess of 45 per cent.

It is understood that the tariffs for property rates are to be increased by 7 per cent in July 2014 for the next financial year. This means that owners will be paying tariffs according to their new valuations which in cases could be as much as 45 per cent and then the 7 per cent will be added to that. It is very interesting to note that whereas most property valuations have increased with the result that home owners will be paying a lot more, our esteemed mayor who has a multi-million rand house will only be paying for a house valued at R1.25-million.

Makes one wonder!

BAYAHLUPHEKA/SUFFERING.

Response from Newcastle Mayor, Afzul Rehman:

Thank you for the opportunity to respond. I agree that all residents should

scrutinise their valuations and use the opportunity to lodge an objection. I

don’t agree that the writer understands that rates will go up by 7 per cent; this has yet

to be discussed by EXCO and council and I don’t believe we can preempt that

discussion. We have always exhibited a caring nature to the ratepayer and I

don’t believe anything has changed. Believe it or not, this is the first time I

am hearing what the valuation of my private property is! The writer fails to add

what percentage my propery has increased by, a quick calculation on my part

shows an increase of over 50 per cent! I love that the writer believes I live in a multi-million rand property. Could the writer please avail himself to my bank manager

when I need a loan against the property? I am however open to the company to re-

evaluate my property, as many different things are taken into account when they

value properties. I subject myself, as any responsible ratepayer, to pay rates

at market value.