A Special Ratings Area (SRA), previously known as a City Improvement District (CID), is a non-profit organisation which collects a levy from property owners, paid in addition to normal rates, and provides ‘top up’ services to supplement those offered by the municipality. An SRA is accountable to its members – the property owners who contribute their levy.
In accordance with the City of Cape Town’s by-law, the levy collected may only be spent within that SRA’s specific geographic area on services and schemes outlined in their approved business plan. These services aim to enhance the physical and social environment of the area, including commissioning repairs to pavements, overseeing maintenance of green spaces, and implementing safety patrols or initiatives.
What are the benefits of establishing an SRA?
– A well-maintained, safer, cleaner and greener area through a holistic approach
– Increased property values, and strengthened investor confidence
– A positive identity for the area
– A structure for ideas to be put forward and considered by council
– The cost of supplementary services shared amongst all property owners in proportion to property values