Property rates increases

[frodob]

I am thinking of buying a sectional title property in Centurion. Does anyone have an idea of the percentage amount that property rates increased by each year for the last few years in Centurion? Alternatively, where can I obtain this information from? Would the municipality be in a position to provide me with this information?

I know this will vary from complex to complex, but those of you familiar with levy increases within a complex, what percentage amount do levies generally increase by each year?

 

[BravoDrie]

I am thinking of buying a sectional title property in Centurion. Does anyone have an idea of the percentage amount that property rates increased by each year for the last few years in Centurion? Alternatively, where can I obtain this information from? Would the municipality be in a position to provide me with this information?

I know this will vary from complex to complex, but those of you familiar with levy increases within a complex, what percentage amount do levies generally increase by each year?

I don't know what the percentage really is, but I have 2 places... one valued at ~R500K, I pay ~R264. The other value at ~R750K and paying ~R328. You notice the "~" that is because its not exactly the same each month, for some unknown reason that only City of Tshwane knows, it varies +-R20. Also, what they reckon what the property is worth versus what it is actually worth also differs greatly; thankfully in my case; in my favor.

And as far as I know too, its a percentage of the value, and since the value stays constant for long periods, I have no idea why it various. Tried to find out once, but customer care seemed more clueless than me. But if you want to give them a shout here is the customer care number: 012 358 9999 or [email protected].

Hope it helps to give you an idea at least.

 

[ebendl]

Mine is pretty solid at around R807. Originally I planned for around R550 for my sectional title property, but it ended up waaay higher than I anticipated. Turns out the more recently built properties are much higher valued, so I have a pretty high rates & taxes (I bought in 2010 directly from the developer).

The Tshwane bill rate it a little bit lower than I paid, but not much (R200k or so).

I get my bill every month and the most it differs is around R1 from month to month.

 

[nicroets]

In September 2009 the formula for residential property was (market value - 15000 - 35000) * 0.01017 * (1-35/100) / 12
Now the formula is (market value - 15000 - 35000) * 0.01354 * (1-35/100) / 12
So basically it's gone up by 33% considering no increase in property value.

There comes a point where a 1% increase in the rate causes market values to drop by 1%. Then the municipality doesn't get any more tax. (I don't know how far we are from that point and would love to see a detailed economic model).

Waste removal increased by 68% over the same period.

 

[frodob]

Thanks for the replies Gives me some things to think about.