Rates
are calculated by charging a percentage of the valuation of your property as an
annual fee. The higher the value of your property, the higher your rates will
be. The value of the property is determined by valuers and the resulting value
is multiplied by a factor (eg 2.4%), which in turn results in the amount
of rates charged. These funds are then used by the Municipality to maintain NMBM
infrastructure (such as roads and streetlights).
It
is important to remember that the Municipality has to fund most projects and
maintenance work in its area itself. Road maintenance, stormwater drainage systems,
electricity consumed by street lighting and many other services that
directly or indirectly benefit NMBM residents have to be financed. The income
from rates charges finances these and other community services.
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The property must be categorised as
residential
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You must be the owner of the property on 1
July of the year for which the rebate is being applied
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You must be a pensioner and at least 60 years
old
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The joint income of all occupants residing on
the relevant property may not exceed an amount prescribed by Council on an
annual basis.
- Pensioners/Disabled
Rates Rebates
- Rates
Exemption for Public Benefit Organisations and Not-for-Gain Institutions
- Sporting Body Rates Rebate
- Public Benefit Organisations – Education Purposes Rates Rebate
Annual property rates are payable in full on or before the end of September each year.
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The annual increase takes effect on the first
of July of each year, as this Municipality’s financial year is from 01 July
until 30 June the following year
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When a supplementary valuation is done
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Every four years, when the entire Metro gets
revalued in terms of the Property Rates Act