How to assess what your home is worth
*This article first appeared in our Property360 digital magazine
Property values can often be a contentious issue, not only insofar as rates are calculated but also the price a home sells for, or what a buyer may be prepared to pay.
There can also be differences in the value assigned to a property by the local municipality and the value given by an estate agent.
Erwin Rode, managing director Rode & Associates, says in terms of the Municipal Property Rates Act, the municipal value of a property must reflect the market value. However, as these are mass valuations, one would ânot expect an accurate estimate at all timesâ.