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Last Chance for Gauteng Based Companies to Contest Cape Town Rates Valuations

 




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For those Gauteng businesses and corporates who are owners of commercial and industrial property in Cape Town.  You have limited time to assess the value of your Cape Town based properties and lodge objections where they are overvalued for rates.  If you don’t get it sorted soon you will be stuck paying excessive rates for the next four years.   

The City of Cape Town will be finalising it’s 2012 General Valuation Roll (GV) this month.  The GV is essentially a register of all properties in the City’s jurisdiction, along with their value and other pertinent information. The City of Cape Town uses these property values to calculate the Property Rates levy charged to property owners as Assessment Rates. 

According to Sean Philip of Venn Diagnostics “The City of Cape Town does not have the resources to accurately value each and every one of the 800 000 properties in their jurisdiction, which means that over- and under-valuations are inevitable.” 

Tips for Gauteng owners of commercial property in the Cape regarding the 2012 General Valuation Roll:  

 •  Any valuation objections must be submitted during the objection window period, which is open for 2 months from March 2013.

•  After April 2013 your municipal property valuation will be set in stone until the next valuation period.

•  If any of your properties are over-valued, you will be overpaying on rates for the next 4 years (until the next valuation period).

Valuing property and improvements as well as compiling and submitting an effective objection is a very time-consuming and costly exercise – particularly if the objection is unsuccessful.  Venn has more than 20 years’ experience in municipal billing and rates analysis and reductions.  They have assisted clients achieve cost reductions from municipalities all over South Africa.  

According to Philip, Venn services are on a no-cure, no-pay basis – “We bear all the costs, and if we are not successful in achieving a valuation reduction you won’t be any worse off.” 

 Landlords with large property portfolios need to act now and get started by the end of this month to get the job done in time.  The analysis of large property portfolios takes a considerable amount of time including getting assessors out to the properties. Assessors are all so booked up at this time of the year and availability is a problem.  

Philip says “We at Venn have dedicated and experienced property assessors who have worked with us over the years.”  They know how to get the job done effectively.    

Get hold of us now to start the process of identifying and preparing appropriate objections.  The earlier we are appointed, the more likely you are to achieve a positive outcome.  Act now to find out whether you are going to be overcharged.  

“We at  Venn will make sure that you are not overcharged on your property rates for the next four years.” 

Call Sean Philip at the Venn Cape Town office now for advice and more detail on deadline dates for submission 

Venn Cape Town Office

Tel. +27 21 461 9300

www.venn.co.za    

Municipal Rates Valuations City of Cape Town


Date Posted: 2013-01-18
Posted By: Venn Diagnostics
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