Data provided by McGregor BFA
All data is delayed
Loading...
See More

Joburg denies inflating rates

Jun 08 2012 17:52 Sapa

Related Articles

Joburg uncovers corruption scam

Joburg billing ruling to be challenged

Joburg financially sound, boasts mayor

Joburg to tackle outstanding bills

Bapela, Joburg mayor meet over billing

Joburg: City in healthy financial state

 

Johannesburg - The City of Johannesburg has denied inflating rates in the valuation of properties.

Spokesperson Gabu Tugwana said on Friday valuation was not determined by a certain percentage but by reviews, taking into account market sales data.

"The valuation rates are based on the market sales value from the last date (2008) of valuation up to the current date of valuation," Tugwana said.

On Thursday, the Democratic Alliance accused the municipality of inflating the valuations rates.

"The sting, a painful one indeed, is that the valuations department now has not just inflated, but hyper-inflated property values... from 2008 to levels which bear not the least (relation) to current market values," said DA spokesperson John Mendelsohn.

He said some properties had lost value, and people should not pay more than they are supposed to.

Tugwana said the objections to the valuations were often two-way. Some property owners objected to being under-valued and others object to over-valuation.

He said residents were more than welcome to bring their queries, backed by evidence, and the city had made an option for some to come in even on Saturdays.

"We undertake to investigate and consider each case individually and invite clients to visit our valuation department, on the 4th floor of the Metropolitan Centre (in Braamfontein)."

johannesburg  |  city of johannesburg
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zille: DA will provide real, sustainable jobs

The DA says it has a policy package in place which will lead to 6m real, sustainable jobs being created. Watch Helen Zille explain.

 
 

Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...