JHB Rates - Final figures

[Moederloos]

Just got an email from CoJ with new rate structures. Seems to be finalised.

My rates remained virtually unchanged.

Calculations (for residential properties) are:

(((Property Price - R150 000) * 0.004) - 20%) / 12

so, for R1 000 000

1 000 000 - 150 000 = 850 000
850 000 * 0.004 = 3400
4000 - 20% = 2720
2720 / 12 = R226 per month

 

[kaspaas]

Seems to be much lower than the proposed rates for Tswane.

What car is the mayor of Egoli driving? It could be in need of an upgrade

 

[psc]

My rates doubled, although they do look better than they did on the site a month ago (when it was almost triple !!)

 

[Deenem]

Methinks they just screwed themselves with property prices levelling off.

They saw those 30+% increases in property of the past few years and said, 'We want want some of that', now the bubble has burst and their big plans doesn;t look so good anymore.

 

[Moederloos]

Methinks they just screwed themselves with property prices levelling off.

They saw those 30+% increases in property of the past few years and said, 'We want want some of that', now the bubble has burst and their big plans doesn;t look so good anymore.

Don't be too sure.
One house in Houghton (R8 million) leveled and turned into 16 townhouses (@R2 million) = a BIG increase for them with almost minimal investment.

 

[BT6LW]

Just got an email from CoJ with new rate structures. Seems to be finalised.

My rates remained virtually unchanged.

Calculations (for residential properties) are:

(((Property Price - R150 000) * 0.004) - 20%) / 12

so, for R1 000 000

1 000 000 - 150 000 = 850 000
850 000 * 0.004 = 3400
4000 - 20% = 2720
2720 / 12 = R226 per month

Am I missing something?

4000 - 20% = 2720


How .... 20% of what?

 

[Moederloos]

Am I missing something?

4000 - 20% = 2720


How .... 20% of what?

oops.

1 000 000 - 150 000 = 850 000
850 000 * 0.004 = 3400
3400 - 20% = 2720
2720 / 12 = R226 per month


(As to the -20%, I just multiplied by 0.8 - the final figure of R226 is correct though - from their table).