The City of Cape Town is giving property owners some rate relief.
The City of Cape Town says that it is increasing the rates and taxes rebate for property owners in the city, taking effect in the coming 2023/24 financial year.will increase from R285,000 to R435,000 – an increase of 52%.
The announcement comes after the city’s General Valuation Roll 2022 opened for public inspection until 30 April 2023. In the latest roll, the city recorded 909,000 rateable properties, valued at R1.7 trillion total property value. “This left property owners guessing the rates liability of their new property valuations. For GV2022, we are asking council to pass provisional rate-in-the-Rand and relief measures on 24 February 2023. This will enable property owners to determine the likely impact on their rates bill using the rates estimate calculator, which will be live from 27 February 2023,” said Hill-Lewis.
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