Edition 12 of 2004, Friday 02 April 2004
We had calls from our readers wanting to know what is happening with the new Property Rates Bill.
National Assembly provincial and local government committee Chairman Yunus Carrim on Wednesday clarified the apparent "misunderstandings" about the new Property Rates Bill, soon to be enacted by President Thabo Mbeki.
In a statement, Carrim said his committee would like to see the bill that was approved by parlement earlier this year, come into effect from the beginning of the new municipal financial year on July 1.
The Bill allows municipalities the right to introduce a new property rate system. These include the properties of public entities, farmers and others in rural areas, religious, welfare and charitable organisations, independent schools, and conservation bodies.
However, it was emphasised that there were no dramatic increases in property rates pending and rates would be based on the market value of land and buildings.
Property owners will pay much the same rates as before as increases will be inflation-related. The minister of provincial and local government can at any give time intervene to prevent dramatic rates increases.
Under the Constitution, municipalities could not apply rates in a way that undermined national economic policies.
"The government is committed to keeping inflation low, and tax to GDP ratios at 25 percent. "So rates will not be applied in a way that undermines macro-economic stability. The ministers will intervene, if necessary," Carrim said.
On a lighter note, this week we put our focus on Hoedspruit, the town with a difference, the town where the big 5 gets to wear hats!
We also carry on with our discussion on sectional titles, Ombudsman is required, says minister, indeed not to be missed!
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|>> Real Estate in South Africa|
Buying in South Africa
This week we bring foreign buyers some useful information about buying property in South Africa:
|>> View from the Bridge|
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|>> Where to buy a home..|
Have you ever thought that traffic might play a big role when you purchase your dream house? Anthony van der Riet, Managing Director of Realty Executives shares a few thoughts with our readers:
|>> Ombudsman is required, says minister|
THE land affairs department is to investigate the feasibility of introducing a sectional titles ombudsman because existing forums for settling disputes are not easily accessible.
A task team has been set up to investigate.
Deputy Agriculture and Land Affairs Minister Dirk du Toit is convinced an ombudsman is needed. He says the Sectional Titles Act of 1986 provides for two kinds of forum for dispute resolution: the courts and arbitrators.
|>> Boschendal Property Development|
Provence-style living in Boschendal
THE new owners of the 2240ha Boschendal Estate say they will promote R3,8bn worth of development.
The estate was sold by Anglo American Farms last year to a consortium for R323m. Nedbank Corporate will help fund the purchase and the development work.
Clive Venning, CEO at Boschendal and Graham Johnson, MD of the Boschendal Property Development Company, say there is a development programme that could run for 10 years and that could result in R2bn worth of land sales and R3,8bn in total development.
|>> Focus on Hoedspruit, South Africa|
Hoedspruit is a small tourism and agriculturally orientated town in the central Lowveld just outside the famous Kruger National Park. Tourism facilities centre around Game Lodges, Safaris and other "Big 5" activities as well as birding, hikes, and exclusive "getaways".
|>> Property of the week|
|>> Have fun!!|
Tips To Help You Choose
Richmond Bisque... Deep Russet... Hickory...
The names are enough to make your head spin. Choosing a paint color becomes even more baffling when you consider that most homes use at least three different shades -- one for the siding and two or more for trim and accents such as doors, railings and window sashes.
|>> Wake up to the world!|
By Ian Fife, Cannes, France
Fortunes are being invested in emerging property markets, but SA is far behind.
Real estate is going global. And developing economies around the world can look forward to the prospect of more than US$150bn (R1 trillion) pouring into their property markets in the next few years. But SA must move fast if it hopes to compete with rivals in Central Europe and Southeast Asia.
|>> Be in the frontline|
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7 reasons why you should use our CyberAgent programme:
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|>> YOU, yes YOU can be a winner!|
Congratulations to Kelly Meyer from Gauteng, our winner for March 2004!
Refer your friends, family and colleagues to www.CyberProp.com and stand a chance to win this exciting prize!
The next competition has already started and the winner will be announced at the end of every month.
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