Rising municipal rates and taxes is a hot-button issue - one that negatively affects, not only operating costs and gross rentals, but also makes demand on property management resources.

Property owners in Johannesburg, Ethekwini and many other municipal areas only have a short time in which to lodge any objections to the new municipal valuations of their properties – and to the new municipal rates based on these valuations that they will be charged from July.

The Reserve bank (SARB) Monetary Policy Committee (MPC) decided today to hike its policy Repo Rate by a further 50 basis points to 6.75%, a move that will see Commercial Banks raise their Prime rates to 10.25%.

Ongoing high municipal rate hikes are harming communities because of a lack of understanding about the far-reaching impacts of these increases reports Marius Muller, CEO of Pareto Limited. 

Tuesday, 25 August 2015 20:25

MEC, shopkeepers discuss municipal rates

Gauteng Economic Development, Environment, Agriculture and Rural Development MEC Lebogang Maile on Monday convened a meeting with Tembisa shopkeepers to discuss municipal rates. 

Latest research into municipal rates and taxes confirms what landlords already know: municipal rates and taxes cost twice as much as they did a decade ago, and represent an ever-increasing slice of operating costs.

When it comes to buying a property most buyers are aware of the cost of obtaining a bond, transfer duties and lawyers fees; not many new home owner consider the cost of municipal rates. 

Friday, 22 February 2013 07:19

New municipal rates lead to many queries

The Cape Town City Council’s current revaluing of residential property has, as previously, resulted in his property group being flooded with questions from the general public as to the accuracy and reliability of these rates – and, in many cases, the policy on which the Council appears to be working.

Most Popular

Spear REIT Limited delivers double digit growth despite tough economic environment

May 17, 2019
 QUITIN ROSS
“Spear has delivered distribution growth of 10,09% in a very tough economic environment.…

Izandla Property Fund celebrates completion and opening of its first development project

May 17, 2019
 SASOL OPENING
Izandla Property Fund announced the completion of the development of a new logistics…

Mozambique is a Buyer’s market

May 16, 2019
Default Image
Building off MozamReal’s successful debut in 2018, this year’s edition is attracting…

Emira adds another two shopping centres to its USA retail property portfolio

May 17, 2019
 GEOFF JENNETT
Emira Property Fund has made two further equity investments into grocery-anchored…

Landmark foreshore building in Cape Town to become iconic mixed-use high-rise

May 17, 2019
FORESHORE PLACE
South Africa, Cape Town; An iconic 70’s high-rise in Cape Town’s downtown financial…

Please publish modules in offcanvas position.