Treasury Department
The
Treasury Department has a responsibility, under
the Financial Regulations 1969, to manage the
financial business of Council. The City Treasurer has
to ensure that departmental section procedures and
processes are documented and used appropriately for
the proper functionality of the Council. The Department
forms the backbone for the effective functioning of
Council and its operations must therefore enhance
achievement of Council's vision and mission. One of the
major objectives of the Department is to ensure the
integrity, prudence and authenticity of
Council's financial system and transactions as well as
their appropriate recording to improve the liquidity
levels. This is done to enhance the functionality of the
organization and to facilitate the completion of a
substantial number of capital projects and other service
delivery.
RATES
Council
levies property tax on immovable property. This tax is
called rates. It is through these taxes that Council is
able to carryout its financially reliant
responsibilities such as roads, street lights, street
cleaning, refuse collection and other services required
by city residents
METHOD OF CHARGING
Council
charges rates based on the market value of the property.
The market value is a fee that a willing buyer will pay
out to a willing seller for the property. This includes
the value of land, with or without any developments
carried out on it. The Rating Act states that an
independent valuer must be appointed by Council from a pool
of valuers approved by the Minister of Local Government
and Housing to valuate the property. In valuating the
property the following are considered:
* The
size of the property
* The
type of the property
* Any
benefits or disadvantages linked to the property e.g.
accessibility, view and other desirable infrastructure
*
Restriction in the title deed
*
Leases affecting the property
next
