Property Valuation Act comes into effect on August 1

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This Bedfordview house with a carport with space for four cars and a swimming pool is being auctioned off on Wednesday, September 17, 2014. It is part of the Lolly Jackson estate and once housed South African dancers working at his Teazers clubs.

This Bedfordview house with a carport with space for four cars and a swimming pool is being auctioned off on Wednesday, September 17, 2014. It is part of the Lolly Jackson estate and once housed South African dancers working at his Teazers clubs.

PRETORIA - The Presidency said on Wednesday that President Jacob Zuma had‚ in terms of section 21 of the Property Valuation Act‚ 2014 (Act No. 17 of 2014)‚ determined that the act would come into operation on August 1.

The act aims to‚ among others‚ provide for the establishment‚ functions and powers of the Office of the Valuer-General.

It will also provide for the regulation of the valuation of property that has been identified for land reform as well as property that has been identified for acquisition or disposal by the Department of Rural Development and Land Reform.

- Source: RDM News Wire