The new proposed taxation rates on property have been tabled to Council by the Overstrand Executive Mayor, Dr Annelie Rabie, at their meeting on 29 March 2023.
Taxpayers will now be able to do their own calculations in this regard. This calculator will be on the municipal website as well.
In terms of the MPRA, property rates are calculated on the value of the land and of any improvements or buildings.
This value is based on the property’s market value - the price you would realistically get for a property in the open market, between a willing buyer and a willing seller.
Property Rates are levied as a cent in the Rand based on the market value of the property as reflected in the valuation roll.