6 December, 2018
Property valuation regulations
Below is a copy of the final regulations that have been
approved by the Minister and which were received from
Annelize Crosby of Agri SA.
I have not
had a chance to compare the final version of these
regulations with the original ones in any detail but I have
picked up that the valuation methodology has not changed.
This involves taking the current use value (which could be
zero if a loss was made at the time of valuation) and adding
it to the market value (including timber or any other
growing crop) and then dividing the sum thereof by two. In
essence this means that the value of standing timber will be
halved. This is totally unacceptable and probably
I have been
in contacted with Annelize this morning to discuss our
concerns. She is of the opinion that, as agreed some time
ago, we may need to take the regulations on review through
the courts. Members are reminded that the Exco did agree
last year that in need, we would contribute to a legal fund
to challenge these regulations.
be kept informed of developments in this regard.
I have, for
your information, attached the second submission that we
made to the Valuer General which outlines the concerns that
we had with the original regulations.
Source: Agri SA