Over 60 000 new properties in Joburg in the last 5 years

The steady growth in new properties affords the City an opportunity to increase its revenue stream from property rates.

The City of Johannesburg’s rateable properties stood at a record 872 900 by July this year, showing a healthy growth rate of about 60 204 properties over the last five years.

This was revealed ahead of the next general valuation that will come into effect on 1 July next year.

The five-year property growth rate in the City represents just over 12 000 new properties that have been registered per year.

Group finance spokesperson, Kgamanyane Maphologela, said out of the total recorded properties on the City’s current general valuation roll, the bulk of these properties are residential properties representing about 87 per cent, followed by both commercial and other categories at 5 per cent and vacant land at 3 per cent.

“The steady growth in new properties affords the City an opportunity to increase its revenue stream from property rates, as the City would have more properties it levies. This would, in turn, ensure that the City can deliver services such as clinics, libraries, parks and recreational facilities, a cleaner City and municipal roads amongst others,” he said.

Property rates is one of the biggest revenue streams for the City after electricity and water.

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  AUTHOR
Chantelle Fourie

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