PROPERTY
NEWS HEADLINES
Deirdre Fibiger, Director at Property Network, has cautioned property owners in the Nelson Mandela Metro to prepare and equip themselves for the upcoming municipal valuations process.
"In
the past, owners of property could be more complacent about the
valuation process," she said, "simply because rates tariffs were much
lower than they are now."She added that as tariffs have increased, the amount owners have to pay has become a substantial cost in owning property and more effort needs to be spent on ensuring an accurate valuation is done on one's property.
Owners need to be aware that municipal value is based on current market value and being aware of economic trends is key to knowing whether the valuation is accurate or not.
"South Africa, like the rest of the world has experienced recessionary times since the last municipal valuations and therefore most properties would presently be overvalued," she said. "This directly translates to unneccessary expenditure for the property owner"
Property Network is offering a free Comparative Market Analysis to anyone requesting it, which provides valuable information regarding latest sales in any given area, which in turn provides a clear indication of market value. Any major variances to the Municipal Valuation, should then be lodged as a query with council
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