Green Point Pensioners Blast Soaring Property Rates

Pensioners in Cape Town's Green Point suburb are up in arms over skyrocketing municipal property rates, with hikes tied to surging valuations leaving many on fixed incomes struggling to cope. At the local Ratepayers' and Residents' Association meeting, 84-year-old Michael Wolffe shared his story: his townhouse, bought for R245,000 nearly 40 years ago, now valued at R7.6 million to R10 million, has seen 32 revaluations and a staggering 46.8% rates increase this year—while his income has only risen sevenfold.