A general valuation roll is a document that contains the municipal valuations of approximately 830 000 properties in Cape Town.
Using the municipal property valuation stipulated in a general valuation roll, the City of Cape Town calculates the rates you will pay for your property. A general valuation roll must be produced at least every four years, as stipulated within the Local Government: Municipal Property Rates Act, Act 6 of 2004.
The City elects to produce a General Valuation Roll more frequently - once every three years - in order to minimise the impact of value changes on owners. All properties are valued as at their market value on the date of valuation thus ensuring a fair and equitable rates base.
The municipal valuer is responsible for producing a general valuations roll, and is assisted by professional valuers, statistical analysts, data collectors and support staff.
The date of valuation for the GV2015 roll
is 1 August 2015. All the properties on the valuation roll are valued as at the 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, Act 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 have been collecting and reviewing sales that have taken place around the date of valuation – 1 August 2015. 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 in Cape Town. This programme makes valuation cheaper and faster, but no less fair.
The GV2015 Roll
was audited by an internationally recognised independent body – International Property Tax Institute – focusing on the City’s compliance with international best practice.