Monthly rates are based on the value of the property. They are calculated based on the value of the property, which is then multiplied by 0.006273 to get your yearly rates. Divide this by 12 to get your monthly rates.
Example:
- (R1,255,000 property)
- R1,255,000 less R450 000 exemption
- R805 000 x 0.006273 = R5049,76 per annum
- This equates to R421 per month
- *Please note these figures are estimates and subject to change