The rate hikes hitting South African property owners soon – Cape Town vs Durban vs JHB and more

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The rate hikes hitting South African property owners soon – Cape Town vs Durban vs JHB and more
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These are the tabled property rates for the 2024/25 financial year, effective July 2024.

South Africa’s major municipalities have tabled their prospered tariff increases for the 2024/25 financial year, revealing that eThekwini residents are again facing the sharpest increases while also paying one of the most expensive property rates in the country.

The municipal mayors have explained that above-inflation Eskom, water board, and salary increases have made these tariff hikes unavoidable. The most expensive rates are levied in Buffalo City in the Eastern Cape, which has also seen an adjustment in line with inflation. eThekwini mayor Mxolisi Kaunda has admitted that the proposed increases are well above inflation but were inevitable because of the current economic climate.

Cape Town’s property rates are 28% lower than those of the next metropolis, Joburg, for residential properties.

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BusinessTechSA /  🏆 24. in ZA

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