Rates delays cost property firms

Posted On Friday, 19 September 2003 02:00 Published by eProp Commercial Property News
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Delays in finalising transfers cost developers and property owners thousands of rand a month

Carel Le RouxSanlam Property Asset Management has launched two high court applications to force the City of Johannesburg to hand over rates-clearance figures so that it can complete the transfers of properties it has sold.

Delays in finalising transfers cost developers and property owners thousands of rand a month as they are forced to pay rates and taxes on properties sold.

Carel Le Roux of attorneys and conveyancers Le Roux, Vivier & Associates said that the Kine Centre in Johannesburg's central business district was sold on February 26 this year by the Sanso Kine Centre, a wholly owned subsidiary of Sanlam, to a medical consortium. On April 14 rates-clearance figures were requested from the city council, and "from that date until a launching of a Johannesburg High Court application on July 30, we could not get rates clearance figures from them", he said.

Le Roux said that only after the application was served on the council and it had appointed attorneys to act on its behalf did it furnish the rates figures.

Virgil James, who is spokesman for the council's finance and economic development department, said the city council experienced problems because a number of properties had not been valued, and the council was forced to start from scratch and obtain all the relevant information.

Last modified on Friday, 16 May 2014 10:59

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