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How Property Rates are calculated

Property rates are calculated on the market value of a property by multiplying it by a cent amount in the rand, which is determined from the annual budget.

For example: In the case where the market value of a property is R800 000 and the cent amount in the Rand is R0.009 (0.9 of a cent), then the amount due for property rates will be R800 000 x R0.009 = R7 200 per year. This means that every month the property owner will pay R600.