Cape property owners should not be ‘bled dry’ by new rates
The Cape Chamber of Commerce and Industry says that the city should rather cut inflated salaries than unfairly increase property valuations
The City of Cape Town has been urged to "slim down its bloated bureaucracy" rather than "bleed property owners dry" when it comes to a new round of property valuations. The Cape Chamber of Commerce and Industry said on Monday that it was easy to understand concerns that a new round of property valuations could be used as a tool to increase income for the city. Capetonians are likely to receive notices early in 2019 of a new round of general valuations. Johannesburg residents were‚ in some cases‚ hit by property valuation increases of between 60% to 500% earlier this year. "Government grants to local authorities have been reduced and income from the sale of water and electricity is down because people have found ways to use less power and water‚ so we do have a city hungry for more revenue from property rates‚" said a statement from Janine Myburgh‚ president of the Cape Chamber. "The real problem‚ however‚ is the high cost of running the city. That includes a dozen years of above-inf...
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