Enhancing investment climate & growing jobs: City offering Property Rebate Scheme.

The City of Johannesburg is calling on developers and investors to take advantage of its Property Rebate Scheme when building new or refurbishing old infrastructure.

The move is expected to address basic service delivery shortfalls whilst enhancing the City’s investment climate to enable job creation.

Any tax payer, entrepreneur, legal entity, company, close corporation, trust, property owner or independent individual will be eligible to benefit from the City’s Property Rebate Scheme if they own, purchase or refurbish existing buildings solely for commercial and industrial purposes, including rental of residential units.

A property rebate is applicable from the date of application and remains valid for the duration of the valuation roll. Rebates will also be considered for owners of vacant land who may apply for a 50 percent discount if the City is unable to provide basic municipal services to develop the land.

Rebates will be applied to strategic economic nodes located along transit oriented developments linking:

– Soweto to the Inner City;

– Sandton (along the Empire, Perth and Louis Botha Avenue corridor) to Orange Grove; and

– Turffontein to the Inner City.

Rebates will also be applied to buildings along the Gautrain and Rea Vaya routes.

Property developers should meet the following requirements to qualify for rebates:

– The development meet requirements set out by the City;

– The proposed development must follow all planning by-laws; and

– The proposed development should be ratified by the Department of Development Planning

A special category of incentives has been created to give developers a ‘rebate holiday’ of about three years. The City is doing this to encourage new developments which will stimulate economic growth.

The rebate will only be processed once the development has been approved by the Department of Development Planning.

There are various categories of rebates on offer, and interested parties are encouraged to visit the City’s Revenue Shared Service Centres for more information.

The City hopes that the 2017/18 property rebate scheme will help bring much-needed upgrades and renewal to transit orientated developments across the metro.

“I am confident this will lead to job creation and a massive spurt of growth and wealth for investors.” Executive Mayor Cllr Herman Mashaba