The City of Johannesburg has released its 2018 General Valuation Roll in what will set the tone of property rates levels for the next five years to June 2022.
If you’re still confused about what this process entails and means, the following text might be useful. It’s taken from the City of Johannesburg Frequently Asked Questions
What is a General Valuation Roll?
A General Valuation Roll (GV) is a legal document that consists of property information of all rateable properties within the boundaries of a municipality. It is produced according to The Municipal Property Rates Act 6 of 2004 (MPRA).
What is the purpose of a General Valuation Roll?
The General Valuation Roll assigns a value to all properties in a municipality with the objective of generating rates on an equitable basis.
Why a new Valuation Roll?
The last COJ valuation roll was implemented with effect from 1 July 2013, and by law the City of Johannesburg needs to review its GV every four years. In the case of the city of Johannesburg, the MEC for local Government granted the City a 12 month extension and therefore Joburg residents will see the GV implemented on 1 July 2018.
The general valuation is tied to a specific date for the entire period of the valuation roll, and must be at most one year from the date of implementation. This is referred to as Date of Valuation, at which all property values are “pegged” or “fixed” and will be 1 July 2017. The values must reflect the market value of the properties in accordance with the market conditions which applied at that date.
When can I inspect the GV18?
The 2018 valuation roll must be handed to the Municipal Manager by 31 January 2018. The Municipality will thereafter publish the Valuation Roll and open it for inspection at the municipal offices and on its website by a date to be confirmed. All property owners will also be notified of their new values in writing.
The roll will be made available for public inspection for a period of no less than 30 days, when property owners can exercise their rights, in terms of section 50 of the MPRA and object to their values or any other property value that is deemed to be incorrect.
Objections can only be lodged against a specific individual property and not against the valuation roll.
What is the date of valuation and why is this important?
The date of valuation refers to the date at which property values are determined and fixed for the purpose of the General Valuation Roll. For the purpose of the new GV 2018 1st July 2017 has been set as the valuation date. It is also the date that will be used for all future calculations for the purposes of supplementary valuations up until a new general valuation roll replaces the General Valuation Roll 2018.
What is the meaning of effective date of valuation?
The effective date of valuation refers to the implementation of the General Valuation Roll. This is usually coincides with the date of the new financial year of the municipality. It means that a person may be levied rates according to the new general valuation roll from the effective date. The effective date of the General Valuation Roll 2018 is 1 July 2018.