Featured Metro

Lagos reverses land use charge to pre-2018 level

The Lagos state government says it will revert to the pre-2018 land use charge rate to reduce the financial pressure on citizens.

Rabiu Olowo, state Commissioner for Finance, announced the development at the 2020 ministerial briefing to mark the first year anniversary of the Babajide Sanwo-Olu led administration.

“As we are aware, in 2018, there was an increase in LUC rate and at the same time, a revaluation of property; this twin-shock had a sporadic increase in LUC assessment.

The soon to be revealed reform will among other things, reverse the rate to pre-2018 rate,” he said.

“The reform also considered a flexible land use charge payments and efficient customer service management in other to ensure prompt issue resolution.”

Former governor Akinwumi Ambode, had announced a review of land use charge in 2018; thus raising the charge on a property solely occupied by the owner for a residential purpose to 0.076 percent per annum from 0.0394 percent.

The rate for an investment property fully occupied by tenants or third party(ies) was increased from 0.394 percent per annum to 0.76 percent.

Related posts

Nigeria earns $32.63bn from oil, gas sector in 2018 — NEITI

Abisola THOMPSON

Osinbajo urges PPP stakeholders not to exclude social infrastructure

Editor

LASG to provide enabling regulation for businesses to thrive

By Meletus EZE

NDPHC, Lagos to improve power supply

Abisola THOMPSON 

Lagos APC officially receives ex-PDP bigwig, Adiukwu-Bakare, others

Editor

Nigerians’ participation in maritime sector rises to 40%, says NCDMB

Abisola THOMPSON
Social Media Auto Publish Powered By : XYZScripts.com