THE valuation of properties in Georgetown is a sore issue affecting the Mayor and City Council (M&CC) and it urgently needs the intervention of central government, according to Town Clerk Royston King.Addressing the M&CC’s most recent statutory meeting at City Hall, King said he is working with senior officers of the Council to restore Georgetown to its pristine state and he has already approached government on issues requiring their intervention, such as the valuation of properties in the city.
The process of revaluation of properties had commenced some years ago but has been stymied. However, continuous assessments are done on some properties as they are erected but the Council is unable to increase rates and taxes since the last valuation of properties was done in 1996.
According to the Valuation Act, the properties should be valuated every five years. Furthermore, King said the Council is losing much needed revenue since new structures are being erected in the City and assessments are not being done, while some of the residential buildings have been converted to commercial usage and are still paying residential rates.
LACK OF FINANCES
King further noted at the meeting that the City Council is a service-oriented organisation and the lack of finances has severely inhibited its work programme. The Municipality has not been able to efficiently deliver critical municipal services in several areas, including road repairs and the provision of street lights.
King reminded that general rates and taxes is the main source of revenue for the M&CC and that the Council is mandated by law to levy rates and to provide certain important services to the citizenry.
Part 1V 201 of the Municipal and District Council Act 28:01 states: “Every Council shall be the rating authority for and shall have power to make and levy rates within each rating area in its Council area.”
Part 1V 213 states: “The rates due in respect of a general rate shall be payable in four installments which shall become due on the first day of February or on the last day of service of the demand note, whichever day is later, the first day April, the first day of July and the first day October.”