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A General Valuation Roll (GV) is a legal document that consists of the property information of all rateable properties within the boundaries of a municipality. It is produced according to The Municipal Property Rates Act 6 of 2004 (MPRA).
The General Valuation Roll assigns a value to all properties in a municipality with the objective of generating rates on an equitable basis.
The BCMM is compelled by legislation to reflect all changes on properties in a Supplementary Valuation Roll. Supplementary valuations are performed during each financial year, according to the relevant legislation, to supplement the current General Valuation Roll with any new properties and/or changes to property values contained in the current General Valuation Roll.
The “date of valuation” refers to the date at which property values are determined and fixed for the purpose of the General Valuation Roll. For the purpose of the new GV 2022, 01 July 2022 has been set as the valuation date. It is also the date that will be used for all future calculations for the purposes of supplementary valuations up until a new general valuation roll replaces the General Valuation Roll 2022.
The “effective date of valuation” refers to the implementation of the General Valuation Roll. This is usually coincides with the date of the new financial year of the Municipality. It means that a property owner may be levied rates according to the new General Valuation Roll from the effective date. The effective date of the General Valuation Roll 2022 is 01 July 2023.
The purpose of the valuation project is to determine a market value of all properties, which implies the most probable price that a property would realise on the date of valuation, if sold on the open market by a willing seller to a willing buyer.
When valuing the properties, the Municipal Valuer establishes the market conditions based on recent sales and market activity in specific area. This will take into consideration areas where values have declined, increased or remained stagnant due to the economy as on the valuation date.
There are several types of properties in the municipality – residential, sectional title, non-residential and agriculture. Each is valued on different basis, although they all relate to the market value.
This is a mass valuation where the Municipal Valuer uses a computer aided mass appraisal (CAMA) system to determine the values of all properties within the municipal boundary. This is based on statistical analysis and geographical information systems (GIS); and therefore requires reliable and accurate data.
For residential property, obtaining access to all properties is not possible, and as such, the Municipal Valuer makes use of advanced technology that allows for the collection of such data. This includes the use of building plans and pictometry, which is a state-of-the-art 3D aerial photography that allows Valuers to see the properties from all angles, and be able to measure the extents and heights of the buildings, as well as other information relating to quality, condition and other improvements. This is augmented by the use of street level footage which is collected by driving down each street and recording the surroundings. This method of data capture is acceptable in terms of the MPRA, and endorsed by the International Association of Assessing Officers (IAAO) which is the international body that sets standards to mass appraisal.
In cases where aerial photography and other imagery is not useable, usually where properties have a lot of foliage or high security walls, then physical inspection of the site is undertaken.
The data collection process is independently reviewed for quality assurance purposes to ensure the Data Collectors are consistent in their approach and the data they record is correct for each subject property. For non-residential properties, field visits are undertaken to obtain data such as the property use, rentals and financial records of businesses.
Section 52(2) of the MPRA states that if the Municipal Valuer changes the value of a property that was objected to by more than 10% upwards or downwards the VAB must review the objection, confirm, amend or revoke the decision of the Municipal Valuer.