rates amendments
From "Comment on Amendments to 2026/27 March Tabled Budget"
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The challenge I am finding in Cape Town, is the overpriced housing market and this has directly led to hike in rates. When I bought my house 8 years ago, I paid R1300 per month on rates and this has doubled in 8 years and yet the house evaluation has remained the same. So what I am struggling with is, how does house evaluation remain the same and yet the rates keep on climbing? yes, one could argue i bought at a saturation price in that surbarb, but if we are basing our rates on the property value, then it should have remained the same.
Also, the fact that the property value is high does not mean, people in that house use more water or electricity or sewage. The City provides the same services, same truck, same people, same water flowing in pipes, so in what planet do we charge more becuase the property value is high.
We should freeze all rates hikes at this stage, we are being squeezed a little bit too much. I am now paying almost 25% of my mortgage value in rates alone. You are way above inflation by the way.