Residents in Johannesburg are about to find that their personal finances are going to be under further strain unless they pay attention to what is happening to property municipal re-valuations.
Irrespective of whether you are a property owner or tenant, the re-valuation of properties in Johannesburg is likely to see you paying more to maintain your residences as your property rates and taxes are primarily based on how the City of Johannesburg values your property.
There have been instances where property values have more than doubled, which has a knock-on impact to the associated rates and taxes.
You can check out the City of Johannesburg valuation roll here to see how your property has been valued.
If you are serious about managing your wealth smartly, it makes sense to identify whether your property has been correctly valued and whether you can object in advance.
The team from Moneyweb have put together this video to explain how this impacts residents: