The City of Johannesburg is to revalue 8,000 properties following an outcry from residents and companies affected by huge increases in municipal valuations. The city revalued all housing and commercial properties in its administrative jurisdiction in 2017, in terms of a legislated process that takes place every four years. Last week, Business Day reported that businesses, residents and other property owners affected by the valuation increases had accused the city council of unfairly inflating property values to boost its flagging income. This came soon after the Joburg council passed its adjustment budget, in which its 2017-18 capital and operational expenditure budgets were adjusted downwards. It received R926m less revenue than expected in service charges. Johannesburg mayor Herman Mashaba said in a statement on Wednesday that many of the properties identified as problematic had received valuation hikes of more than 100%. Mashaba said the valuations entailed an average increase of...
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