Following up on this recent article on MyPE - Property Rates Amendment Bill Will Kill Residential Developments - the Ministry of Cooperative Governance and Traditional Affairs has urged the public to have their say on Municipal Property Rates Amendment Bill while they still have the window of opportunity. The draft Municipal Property Rates Bill was gazetted for comment on 9 June. The last date for comments is 22 July. "Essentially, the Municipal Property Rates Act is being amended to make … [Read more...] about More on the Rates Amendment Bill
rates ammendement bill
Property Rates Amendment Bill Will Kill Residential Developments
An already struggling and limping property market will be severely damaged should the Property Rates Amendment Bill become law without any further changes and it would sound the death knell for developers and investors, says Keith Wakefield, the of CEO Wakefields Real Estate. This Bill which will see rates on rental properties more than double will stop residential development in its tracks particularly as the first to take up new build units, in some cases by as much as 50%, are investors. … [Read more...] about Property Rates Amendment Bill Will Kill Residential Developments
