Property value shock for Buffalo City residents
Buffalo City Metro residents are fuming over the city’s new property valuations‚ many of which show increases of up to 50%.
Residents were alerted to the fact that the municipal valuations had been carried out when they received notification of the prices in the post.
Silvia Kessler of Stirling got the shock of her life on Tuesday last week when she received a letter notifying her that her property value had gone up by 50%.
“My house has gone up by R1-million. I have lived here for more than 20 years and this is the first time I’ve had an objection [to the valuations roll].”
She plans to approach an independent estate agent to help her with her objection.
“It is unfair to just put it up by 50%. That is quite hectic. If it was up by 10 or 20% it would have been better and we could live with that and no one would object. This has to be fair and reasonable‚” she said.
Estate agent and Beacon Bay Ratepayers Association secretary Valerie Knoetze said a number of properties in the suburb had gone up by 48%.