On finalisation of the consideration of objections, if there is evidence that the market value reflected on the property valuation roll is wrong, the law requires the municipality to correct the situation, and where such correction results in rates refunds to the ratepayer, the municipality is obliged to refund the ratepayer. In a case where the ratepayerâ€™s property was undervalued, the ratepayer is obliged to pay the additional rates to the municipality.
Kindly take NOTEâ€¦
Hereunder is not the final RATE, it is only a proposal to Council for approval or amendment together with the draft budget of 2008/09 in their meeting of 29 May 2008, after public participation process on the issues.
This only applies to residential property category:
Value of property â€“ R50 000 x 0.0091 / 12 â€“ 35% rebate = new monthly tax payable
Please note that this is only a provisional rate as recommended by the budget office, and can still be amended before implementation date of 1 July 2008. This rate has to be approved by Council in their meeting at the end of May after the public participation process that is to take place from 1 April 2008.