Understanding the process of commercial property valuation2024-01-18
Written by: Mandisa Ndlovu
In the dynamic world of property valuations, the expertise of Professional Municipal Valuers is crucial. These skilled individuals are the backbone of municipal valuation rolls, essential in ensuring fair and accurate property valuations within a given municipality. In a recent milestone for DDP’s municipal team, eight valuation rolls, encompassing nearly 300,000 properties, were completed during the last week of January 2024.
Municipal Valuers bring a wealth of knowledge and experience to the table. Their role extends beyond capturing numbers; they delve into market trends, analyse property developments, and assess relevant data to arrive at precise market valuations for each property within the municipal area.
The valuation roll is certified by the designated Municipal Valuer following the Municipal Property Rates Act after it has been examined and verified. This step is important as it establishes the foundation for property tax assessments and other financial considerations. Municipalities rely on these certified roles to guide their resource allocation and revenue generation efforts, making them an integral part of effective governance.
The certified valuation roll serves as a comprehensive reference point for municipalities, guiding them in making informed financial decisions. Whether it’s planning infrastructure development, allocating resources for public services, or determining property tax rates, the accuracy of the valuation toll directly influences the municipality’s ability to meet its financial obligations and serve its community effectively.
DDP takes pride in the hard work and dedication of its municipal team. It is a significant accomplishment to have completed eight valuation rolls, reflecting the team’s commitment to excellence. As we applaud these recent achievements, it’s important to recognise the broader relevance of Municipal Valuers and their role in shaping fair, accurate, and transparent property assessments.