*PLEASE TAKE NOTE OF THE CORRECTION FROM .011 TO 0.139 CENTS PER RAND (PREVIOUSLY A TYPO ON OUR PAGE. WE APOLOGISE FOR THE ERROR
Good Day Ndlambe Property Owners
This is a short newsletter to update you on the discussions that took place between the NRF (Ndlambe Ratepayers Forum) the Municipal Finance Department and a representative of the independent valuation company, Mr Lindstrom.
At the end are some pointers to help you submit objections if you believe your property has been over-valued.
The pertinent points from the meeting are as follows:
- The 2024 values were not calculated based on the current (2019) valuation. Properties were aerial surveyed using software that was then able to calculate building floor size.
- Other factors taken into account were: Location, Outlook (sea, river, inland) and Lightstone reports of properties sold in the recent past.
- This years valuation was based on a number of new factors and more accurate data which was collected using new technological advances.
- It wasn’t simply a case of applying a percentage to the last valuation. Nevertheless, there were clearly instances of inaccuracies in the method so don’t just accept your valuation if it seems too high.
- The onus is on the property owner to do their own research to check your own property value.
- The pensioner rebate policy was raised. It was acknowledged as being outdated and the NRF was asked to form a committee to make recommendations to update it. The NRF believed it should be based on property value, income, age of applicant.
- The NRF asked that the current randage (rate at which rates are applied) of .0139 cents per rand of the value be frozen. Ndlambe couldn’t commit to this saying the final budget would be the determinant.
- A blanket objection over all rate increases is not possible therefore it is paramount that individual objections are raised and submitted for consideration.
The following was not part of the meeting but is a list of do’s and don’ts in raising an objection:
Please Do:
- Research your property value. If you’re not sure how to, ask a family member, friend or neighbour to assist. There are online tools available to help with this. https://www.property24.com/purchase-property-report (R94 per report)https://www.standardbank.co.za/southafrica/personal/products-and-services/borrow-for-yo ur-needs/home-loans/home-services-property-guide (Free)
- If you’re on good terms with neighbours (with comparable homes) who have recently bought or sold, ask them if they wouldn’t mind sharing the price with you.
- Use a certified property valuation expert. There’s a fee involved but if there’s a large amount in dispute it may be worth your while.
Submit your application on the prescribed form, by the prescribed date with supporting evidence. To Ms. J Pienaar and Ndlambe Municipality – jpienaar@nblambe.gov.za by 9 April 2024.
Click here for the objection form.
If you’re on good terms with an estate agent, ask them to generate a report for you of similar properties sold in your area (there may be a fee involved).
Please Don’t:
- Don’t use the current (2019) valuation as a benchmark.
- Don’t base your objection on your ability to afford the new rates. It’s not relevant unfortunately.
We hope the above is of value.
Best wishes
The PARRA Team.
