BUFFALO CITY HOME OWNERS ADVISED TO LOOK OUT FOR NEW PROPERTY RATES VALUATIONS

With consumers under pressure to make every cent count in the current challenging economic climate, Buffalo City home owners are advised to take note of the 2022 municipal valuations of their properties which became open for inspection and objection on 21 February 2023.

As these new rates on the 2022 General Valuation roll take effect from 1 July 2023 and will form the basis of your rates assessments for the next four years, it is imperative that you make yourself aware of the market value of your property, to ensure that the values determined by the Buffalo City Municipality reflect a reasonable market value of your property as at 1 July 2022.

As most of the revised valuations are conducted by a computer-aided mass appraisal system, errors and irregularities may occur, so it’s advisable to familiarise yourself with the new valuation as soon as you are notified of it by the City or visit www.buffalocity.gov.za

It is recommended to obtain an independent and professional valuation of your property as soon as possible in order that you can determine if any increase in the value of your property is fair and justified. Bear in mind that the City defines the market value as the amount the property would sell for in the open market – at the designated date of 1 July 2022.

Should you not be in agreement with the City’s valuation, it is best to submit your objection as soon as possible, and advisable to obtain professional assistance in compiling, motivating and lodging your objection – which can be an exacting and onerous task. In this regard, we can put you in contact with reputable professionals who will ensure that your objection meets all the stringent requirements of the City valuers, and who can also undertake a subsequent appeal should your objection not be satisfactorily concluded.

For further information contact your local Pam Golding Properties agent or eastlondon@pamgolding.co.za

Posted by The Know - Pam Golding Properties