Lagos govt revokes 2018 land use charge
The Lagos State Government has canceled the 2018 land use charge.
The
state Commissioner for Finance, Rabiu Olowo, announced this at a press briefing
which held today, August 5. He said the government is also reverting to
pre-2018 land use charges. Olowo added that the state government has
decided to waive the land use charges for 2017, 2018, and 2019 which is totaled
at N5.6 billion.
Recall
that in 2018, the immediate past governor of the state, Akinwumi Ambode,
increased the charge on a property solely occupied by the owner for
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. However, after many
residents opposed the increment, the rate for commercial properties was reduced by
50 percent and 25 percent for owner-occupiers.
Today,
the state government said the state will be reverting to the old land use
charges before Ambode increased it.
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