This is one of the most dangerous developments now facing South Africans and Johannesburg seems to be the testing ground.
"The City of Johannesburg will decide what your property is worth according to a mass appraisal system, regardless of the condition of your home and irrespective of what estate agents value it at.
And don’t bother to object, because even if you succeed, an automatic, computer-generated system will kick the successful objection out if the value is reduced by 10 percent."
"Not only will you not be informed about this decision, you’ll not get another chance to object."
// A mass appraisal system is a computer-generated one to calculate the average selling price using information such as location, size and price. It works on the principle that similar properties should be worth the same. “While this can be reasonable because the city cannot inspect every property, there are thousands of properties that do not fit the typical bill of other properties in the area, and should be considered separately.
“If this is upheld, the legal consequences would be absurd. It would mean the city can disregard all valuation evidence, such as estate agents’ independent valuations, and negate the entire process of objection and review. It would allow the city to simply reinstate the original valuation if above 10 percent. This would mean any challenge to any decision would always fail.
“Effectively, any property owner aggrieved by a decision of the board to ignore his evidence of valuation, would be ill-advised to attempt to exercise his constitutional right to challenge the decision and, therefore, render the entire valuation objection / appeal / automatic review and high court review system a waste of time and money,” \\
Here is one example:
// A Bryanston resident recently objected to his new property valuation of R3.6 million, which doubled from the R1.8m of the last roll.
His objection was upheld, meaning the city’s valuer agreed with him, and his value was reduced.
The matter then went on automatic review to the Valuations Appeal Board because the value had been reduced by more than 10 percent.
According to attorney Chantelle Gladwin, representing the resident, on review the board reinstated the original valuation without giving him any notice or opportunity to object or to be present at any hearing.
“This took place without the city ever having visited the property. \\
The SACP(ANC)'s Communist Agenda
At the SACP(ANC)'s Mangaung conference at the end of 2012 they announced publicly they they had discarded nationalisation of mines as an objective. What then happened was that their other arm, the unions, started putting pressure on mines by ongoing strikes, one after the other. The most successful being the platinum strikes.
The agenda behind these strikes is to break the knees of the mines, forcing them into virtual bankruptcy. It is a form of "constructive dismissal", getting the mines to fire themselves, to shut their doors or sell at rock-bottom prices.
The Chinese or any SACP(ANC) loyal grouping can then come in and buy the mines for a song. If it gets driven so far that the mines simply just collapse financially, leaving thousands without jobs, the SACP(ANC) regime would need to jump to the rescue by nationalising the mines by default, "to save the industry". They would look like the heroes once again. In the meantime they would need to call in skilled people to assist with the running of the mines, which could be the Chinese.
Because they mines would be bankrupt, the workers would be employed at the lowest possible wage, because it would be a case of either some salary, than no salary at all. China would be able to extract the mineral resources they need at cheap labour costs as a perk, while the regime would have "saved the day".
No one would be able to point a finger at the SACP(ANC), because they had officially abandoned nationalisation as a policy, but had to do so to save a crisis.
What is now happening in the property market is a very similar situation. They are going to make it impossible for people to own property. Eventually so many people would default on their bonds and rent that the banks would not be able to handle the situation, the banks would collapse and the SACP(ANC) regime would have to take control of the situation by taking ownership of all those properties. Property prices will collapse, the SA property market as a whole would collapse and all property will in the long run end up in the hands of the government. People would then be able to rent the property from the state or on a 99 year leasing system. This is not even taking into account the recent warnings issued about the SA property bubble by expert economists like Jesse Colombo.
South Africa is a textbook example of how communism works.
Read the full article:
City will decide what your home is worth
A Guide To South Africa's Economic Bubble And Coming Crisis
Economic confusion: calling SA a ‘mixed economy’ is deceiving. Perhaps we are the world’s first marketwise socialist state.
How Central Banks Are Popping The Emerging Markets Bubble
Could Voting Have Avoided The ANC's Land Grabbing Legislation?
Liberty 5 - Delivering on radical change- if not on growth or jobs - 26 March 2014 (2).pdf
So South Africa is a stable economy built on solid rock is it?
South Africa Has Already Crashed
South Africa Is A Failed State, But Denied to Make the ANC Look Good
Mandela's legacy: The Collapse and Destruction of South Africa