Why the government introduced the Property Valuation Act
Since the end of the Apartheid, the government has taken steps to try to rectify wrongs of the past. This involves assisting previously disadvantaged people to gain access to financing, jobs, business opportunities and land.
This is one of the reasons for the implication of the Property Valuation Act
. It’s to assist with land reform in South Africa.
But this law has a sting in its tail. And it could hit you hard…
The implications of the Property Valuation Act
This law means the government can appoint a ‘valuer general’ to dictate what a target of land reform is worth. And the valuer general’s valuation is final.
Once the valuer general decides on the ‘fair’ value of a piece of land, that’s it. The government can then pay the landowner this price, whether the landowner wants to accept or not.
It’s then down to the government to redistribute the land. This law doesn’t just apply to land, it could apply to any property, including your house or business.
If the government doesn’t agree with the valuer general’s appraisal of a land value, they can appoint a new one.
This new law puts an immense amount of power in the hands of the government. Do you trust that the government will make the right decision about your land and property?
If you don’t, you need to stand up and have your voice heard.
Francois Joubert, property investor and investment strategist, has set up a petition to fight back against this unethical law.
If you want to join Francois and other likeminded individuals to stand up to the government about the implementation of the Property Valuation Act, click here
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