Namibia: Windhoek completes appraisal of new property

The Municipality of Windhoek has completed the real estate appraisal process to determine the value of new properties and improvements to taxable properties built between 2016 and 2020.

The general property valuation carried out in 2015 shows that there were around 57,000 taxable properties in Windhoek at the time.

However, a municipal report dated 2018/19 shows that there were only 54,990 taxable properties in the city in 2019, excluding section titles.

The municipality raised at least N $ 556 million from these properties in 2019.

Windhoek Municipality spokesperson Harold Akwenye said the current interim assessment roll would have no impact on the rates and taxes currently levied on properties.

Akwenye says the municipality will add the recently determined values ​​to the main assessment roll to form “the basis for the collection of rates and taxes.”

“The values ​​resulting from a modification to the properties are already added to the values ​​of the municipal tariffs and taxes. These values ​​were made in the same way as those of the main assessment roll on which the tariffs and taxes are in progress. collected, ”he says.

Windhoek’s acting general manager, George Mayumbelo, said in a notice published earlier this month that the municipality has also compiled a provisional interim assessment roll which is now open for homeowners’ inspection.

He said landowners within Windhoek’s borders can go and inspect the provisional assessment roll at the municipality’s head office.

The aggrieved owners whose valuation is contained in the provisional provisional valuation roll are free to file objections against one of the valuations attached to their properties within 21 days from the date of publication of the notice, a said Mayumbelo.

He said an assessment tribunal hearing will be held in council chambers on October 7 to review the provisional assessment roll and any written objections filed, if any.

Objectors or duly authorized legal representatives must be present at the hearing of the assessment tribunal.

Property values ​​should not be confused with property rates and taxes collected by the municipality.

Property taxes are levies paid by all property owners, including commercial, industrial, residential and government owners.

The rates are based on the municipal value of the individual property.

The fees differ from region to region due to the value of the property.

It should be understood that revaluation does not always translate into a significant increase in rates.

The taxes are revised annually according to the needs informed by the budget of the municipality, which means that they can increase independently of the reassessment.

The interim assessment process is therefore carried out to update the information on the municipality’s main general assessment roll, which is only held every five years.

It details improvements or additions to properties, new homes, shopping malls and other properties built after the primary assessment roll has already been completed, among other things. It is therefore the basis on which the municipality determines the rates and taxes levied on real estate.

WHY EVALUATION?

The systematic and thorough process of reassessing all real estate in the municipal territory determines new property values ​​for rating purposes.

The Local Government Act requires that a general reassessment be carried out every five years.

The main objective of the general reassessment is to level the owners and the categories of property.

The value of a property is primarily determined by such things as storage, age, size, wear and tear, and the layout of the room. It is also based on the market value of similar properties in the area. The real estate market is constantly fluctuating based on the prices obtained through the interaction between buyers and sellers.

The differences vary from one property category to another and from one canton to another, as some properties appreciate more quickly than others. This creates inequitable valuations between owners and types of property, which are corrected periodically by a general reassessment every five years.


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