Despite some municipal property rate increases beating inflation in recent years, many have stayed well below inflation over the past 10 years, but there’s a catch.
BusinessTech compared this rate to that in 2014, revealing the property rate increases over the past 10 years. Of the metros compared, Buffalo City has increased its rate by a whopping 82%, beating out inflation over the same period—which stands at 63.5%. Organisation Undoing Tax Abuse noted in Joburg that the average property value in some areas increased by 44%.
For the 2024/25 financial year, several municipal mayors have explained that above-inflation Eskom, water board, and salary increases have made these tariff hikes unavoidable.
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