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General Valuation 2012

2012 General Valuation Roll (GV2012)

The City of Cape Town’s 2012 General Valuation Roll (GV2012) was certified by the City Manager on 31 January 2013.

In terms of legislation, a valuation roll remains valid for the financial year in which it is produced, and then for one or more subsequent financial years as the municipality may decide but, in total, not for more than four financial years.
 
It is best to conduct regular valuations, as long periods between valuations result in significant shifts in values. Due to the fact that there have been shifts in the property market since the GV2009 valuation roll, the City decided to have its next General Valuation Roll – GV2012 - after only three years. 

The date of valuation of the GV2012 is 1 July 2012. All the properties have been valued as at the same date of valuation in order to ensure fairness. The City’s valuations are based on actual property transactions (sales) that have taken place in the open market around the date of valuation. The Local Government: Municipal Property Rates Act, no 6 of 2004, states that all properties on the valuation roll must be valued at market value. Market value is defined as “the amount the property would have realised if sold on the date of valuation in the open market by a willing seller to a willing buyer”.
 
The valuations staff continually collect and review sales. The sales data is used in the Computer-assisted Mass Appraisal (CAMA) of properties. CAMA is a computer-aided analytical procedure used by trained professional valuers to value the large number of properties within Cape Town. This programme makes valuation cheaper and faster, but no less fair.
 
The municipal valuer is responsible for the production of the 2012 General Valuation Roll, which is a document containing the municipal valuations of all the 800 000 properties within the boundaries of the City of Cape Town. The municipal valuer is assisted by professional valuers, statistical analysts, data collectors and a host of diverse support staff. Once the CAMA system has produced the values they are reviewed by the valuers for correctness and adjusted if necessary.
 
Since it is impossible to undertake individual valuations of all 800 000 properties within the legislated timeframes, the City of Cape Town has moved from valuing properties individually to a mass appraisal approach which determines values through models that are informed by data. The City started modelling in 2000 and over the years has improved the models, moving from six models in GV2000, to 12 in GV2006, 24 in GV2009 and 30 in GV2012. These improvements in processes have resulted in better value assessments, and improvements in processes have been noted in the audits that have been carried out by the International Property Tax Institute.
 
The GV2012 Valuation Roll was finalised and certified on 31 January 2013, and the roll was open for inspection and the lodging of objections between 21 February and 30 April 2013. The objection period for the GV2012 is closed. Late objections will not be accepted. 

Property rates are calculated using the municipal valuation assigned to the property. Using the same date of valuation for all properties ensures that rates are levied on a fair and equitable basis.
 
The GV2012 values are available on this website. You may search the valuation roll by clicking here. Details can be found on the Budget website http://www.capetown.gov.za/en/Budget/Pages/Budget-2013-2014-(Draft).aspx (Annexure 2 - Property Rates).
 
Supplementary Valuation Rolls to the GV2012 Roll
The existing valuation roll of the municipality must be updated at least once a year, and the update can only be done via a supplementary valuation roll.
 
Only a subset of the properties in the municipality is valued in a supplementary valuation roll. These properties are for valuation in terms of Section 78 of the Local Government: Municipal Property Rates Act (No. 6 of 2004) and would include, among others, properties that have recently been improved, subdivided or consolidated.
 
The City of Cape Town's first Supplementary Valuation Roll to the 2012 General Valuation Roll, SV01, was certified by the Municipal Valuer on 30 April 2013. The SV01 objection process ran from 21 May until 30 June 2013.
 
The Second Supplementary Valuation Roll (SV02) was certified on 30 September 2013.  The objection period for SV02 runs from 21 October 2013 until 29 November 2013.
 
The Third Supplementary Valuation Roll (SV03) was certified on 31 January 2014.  The objection period for SV03 runs from 21 February 2014 until 31 March 2014. No late objections will be accepted.
 
© City of Cape Town, 2014