Municipal Value vs Market Value. What is the difference?

By Johan Cloete

The municipal value is the market value of a property at a specific historic date. Typically, municipalities elect either the 1st or 2nd of July, 1 year prior to implementation as the municipal valuation date. The municipal value must reflect the value of the property as if sold on the elected date in the open market. The municipal value is in-effect the market value of the property at a specific historic date determined by the municipality. It is for this reason that it is of utmost importance to have the correct market information at the date of the municipal valuation to contest a municipal value. ValueCheck has all the relevant market information and motivational information available in a cost-effective objection motivation report to contest an inaccurate municipal value.

Municipal Value vs Market Value