Simon’s Town Real Estate News

How does the valuations affect Simon’s Town properties?

If Zille will make more how much will she make out of Simion’s Town properties.

According to the SABC the City of Cape Town will collect 24% in the next financial year. They then continue that two thirds of the properties will have lower rates and one third higher rates. They did not say who the higher rate third is.

Zille says properties that have increased by 300% set out in the Absa house price index will pay the average increase in rates. However, those homes valued at greater increases than average will pay proportionally more, while those with lesser increases will pay proportionally less.

Let’s watch this space.

Johan

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Tags: Valuation