Time is running out for COJ property owners: Check your new property valuation before 5 May
The Organisation Undoing Tax Abuse (OUTA) urges property owners in the City of Johannesburg to act fast and review the new property rates estimates before the deadline of 5 May. The new rates will take effect on July 1, 2023, and failure to review and, if necessary, object to the new valuation applicable to your property could result in an overpayment in rates or unnecessary complications.
“Previous cases have shown that property owners can save tens of thousands of rands by objecting to irrational property valuations that affect their rates increases,” says Julius Kleynhans, OUTA Executive Head of Social Innovation. “The City’s method of determining the value of your property can result in an overvaluation which can lead to inflated rates that are not accurate. Rates should be based on the market value of your property in July 2022, using a ‘willing buyer and willing seller’ approach, and calculated in accordance with the City’s property rates policy and property category rates.”
OUTA has simplified the process for property owners to inspect their property value and object if needed on their website. Through our local Community Action Network (CAN) initiative, OUTA has been educating residents about the property valuation process and the importance of public participation in ensuring fair property rates.
“In addition to providing information and resources for residents to check their new property valuation and object if necessary, OUTA will continue to support public participation in all aspects of local government decision-making,” says Kleynhans. “We believe that informed and engaged residents are the key to good governance and successful municipalities.”
To learn more about how to inspect and object to your new property valuation, click here for a step-by-step guide.
Notice of the extension can be found here.