Home owners dispute valuations

Nelson Mandela Bay property owners have less than three weeks to lodge their complaints about the municipality’s pricing of their homes

Some say process is flawed but metro is adamant latest roll is market-related

With less than three weeks to go for Nelson Mandela Bay property owners to lodge their complaints about the municipality’s pricing of their homes, the city is adamant that its valuation process is accurate and among the best.

However, some home owners are disputing the 2017 General Valuation Roll, saying it is flawed and not based on market values.

The metro published the latest valuation roll last month and distributed it to individual accountholders.

It hopes to get more revenue in its coffers from the property value process, targeting an extra 7% in income from rates.

But estate agent Linda Byron, who has been handling valuation objections on behalf of some property owners for the last 10 years, said the market was not showing any improvement since the 2013 valuations.

Byron, who assists residents in her personal capacity, said she had objected to the city’s valuation of her own property in 2007 and 2011.

She would do so again this year as she was facing a 32% rates increase, even though she had not done any renovations since the last valuation.

Three other homes in her street of similar size were each slapped with different increases, she said.

One had increased by 14% in value, the second by 23%, the third by 32% and the fourth by 40%.

“All four of us have lived in our houses since the last valuation, so how are the figures so different?” Byron asked.

Listing examples of clients whose property values had skyrocketed, she said one resident had bought a house in Walmer for R2.5-million in 2015, but the municipality now priced the home at R3.7-million.

Another client bought a house for R1.7-million four months ago, but the city has valued his house at R2.6-million.

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2 thoughts on “Home owners dispute valuations

  • April 11, 2017 at 8:25 am
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    they have no basis for this increase . it would seem this is just another ploy to increase their earnings by leeching off of homeowners. The market is slow and we are experiencing a recession, notwithstanding the fact that we have less investment value due to our countries downgrade to junk status .

    Reply
  • April 10, 2017 at 8:44 am
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    they have a captive audience so they think they can do what they like. why should they care if they are accurate or not.

    Reply

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