By calling for public comment, the CoCT has provided an excellent opportunity for you to directly influence the budget in the direction you want it to go.
We urge you to have your say by clicking the green button below and to encourage everyone you know to participate in this essential process. As an extra measure, DearSA will compile a report from all comments received and will present it to the City to ensure the voice of the public is not ignored.
Please take action and participate now as the closing date is Monday 29 April.
Thank you for participating in your democracy.
The team at Dear South Africa.
The 2019/20 Budget tabled on 28 March 2019 has changes to the way property rates will be calculated in future.
There is an increase from the point where property rates start to be payable. It was increased from R200 000 to R300 000. The Rate in Rand was lowered from 0.007154 to 0.00555. It represents a 22% drop in the Rate in Rand rate.
The nett effect of these changes is that properties that had a property valuation (GV2018) increase of 30% will be paying the same rates as before. Lower than 30% property valuation will see a decrease in property rates. Those with a property valuation increase (GV2018) of more than 30% will progressively see an increase in their property rates bill.
Sally Gracie, an experienced local agent and MD of Chas Everitt Cape Town South with offices in Fish Hoek, Tokai and Bergvliet says there are plenty of buyers waiting to take action after the election.
“It is not just an observation based on gut feel, it is the clear imbalance between those viewing properties on the portals and the offers being taken. As an agency that monitors many key indicators, we see an issue here showing considerable interest by buyers but a reluctance to follow through with offers. This usually indicates a confidence issue and it’s clear that at the moment we can attribute this to the imminent elections”, says Sally Gracie.
“We measure four major indicators; the number of people viewing our listings online, the number of appointments that result from this interest and then the number of offers taken and sales concluded,” said Sally. “When the number of people viewing property increases, but the number of offers taken decreases, then it is clear there is a confidence issue we need to identify. Based on our recent discussions with buyers it is clear that it is not Eskom but the election that is impacting on buyers taking action. “
Sally cautioned sellers to not misread the market. “This situation does not mean that we are expecting an increase in prices as we have had a build-up of stock, in particular at the top end of the market where supply has increased substantially since the start of the year. Sellers need to remain competitive! What is needed is turnover, and we expect that movement will pick up, absorbing the increase in stock that we are currently servicing. I think we can say this is good news for everyone,” she said.