New Valuation Roll Open for Inspection | Objections Close 8 January 2027
George Municipality's new General Valuation Roll is now open for public scrutiny, and property owners are encouraged to review the valuations assigned to their properties.
The new roll is scheduled to take effect on 1 July 2027 and will form the basis for calculating municipal property rates over the next valuation cycle.
Indications of substantial increases in certain municipal property valuations have raised concerns about the potential financial implications for homeowners, property investors and landlords.
But will higher property valuations automatically mean substantially higher municipal rates?
Not necessarily. History provides an interesting perspective.
IMPORTANT DATES FOR PROPERTY OWNERS • 5 November 2026: Public inspection and objection period opens.
• 8 January 2027: Closing date for submitting objections.
• 1 July 2027: Implementation of the new General Valuation Roll.
Property owners should inspect their valuations and submit properly motivated objections within the prescribed period where justified.
GEORGE MUNICIPALITY — VALUATION ROLL INFORMATION WHAT HAPPENED DURING THE PREVIOUS REVALUATION?
George Municipality's audited financial statements provide valuable historical insight. Between the 2022/23 and 2023/24 financial years, the following changes were recorded: Residential property indicator Change • Total residential valuation base +58.8% • Standard municipal rates tariff −28.9% • Residential property-rates revenue +13.2%
Although the municipality's residential valuation base increased by almost 59%, the standard rates tariff was reduced by approximately 29%.
Nevertheless, residential property-rates revenue increased by approximately 13%.
The important lesson: A substantial increase in municipal valuation does not necessarily translate into an equivalent increase in municipal rates.
The municipality can adjust its tariff to moderate the effect of increased property valuations. However, the financial impact on individual properties may vary considerably.
Source: George Municipality, Audited Annual Financial Statements 2023/24, Note 29.
WHAT COULD THIS MEAN FOR YOUR MUNICIPAL ACCOUNT?
Consider a residential property currently valued at R3 million, with its new municipal valuation increasing by 50% to R4.5 million.
Using the reported 2026/27 residential rates tariff and assuming the current residential valuation reduction remains unchanged:
Scenario Approx. monthly rates
Current valuation: R3 million R1,565 New valuation: R4.5 million, unchanged tariff R2,413 New valuation: R4.5 million, tariff reduced by 25% R1,810
These examples demonstrate the importance of the municipal rates tariff.
A 50% valuation increase could produce very different outcomes depending on the tariff approved for the 2027/28 financial year.
At present, the final 2027/28 rates tariff has not been confirmed. It would therefore be premature to predict the actual increases individual property owners will face.
WHAT ABOUT RESIDENTIAL RENTALS?
Higher municipal rates could also influence George's residential rental market.
For landlords, municipal rates represent a recurring ownership expense. Where these costs increase, property investors may seek higher rentals to protect their investment returns.
However, rental prices are ultimately determined by available rental stock, market demand and tenant affordability.
Higher municipal valuations do not automatically justify equivalent rental increases.
The longer-term implications for rental investment yields could nevertheless be significant.
In our next KPS Property Market Insights newsletter, we will explore how inflation, municipal rates and rental yields could collectively influence residential rentals across George.
SHOULD YOU OBJECT TO YOUR VALUATION?
A municipal valuation should reasonably reflect the property's market value at the valuation date determined for the roll. Where a valuation appears excessive or contains factual inaccuracies, property owners should consider submitting a formal objection supported by appropriate evidence.
Recent comparable property sales, property characteristics and condition may provide useful supporting information.
Importantly, an objection must relate to the valuation or other information recorded for a specific property. Merely believing that municipal rates are too high is not sufficient grounds for an objection.
Objections must be submitted through the municipality's prescribed process.
Do not miss the 8 January 2027 deadline.
ACCESS THE GEORGE MUNICIPALITY VALUATIONS PAGE Municipal Valuations Department: 044 801 9111 Email: valuations@george.gov.za
OUR VIEW The previous revaluation demonstrates that George Municipality has historically adjusted its rates tariff to moderate the effect of increased property valuations.
Whether a similar adjustment will be implemented in 2027 remains to be seen.
What is certain is that property owners should not ignore the new valuation roll.
Our advice: Verify your valuation now, compare it with credible market evidence and exercise your right to object where justified.
A little attention today could have meaningful financial implications for the years ahead.