Real Estate Professionals Call For Review Of Lagos Land Use Act
The Nigerian Institution of Estate Surveyors and Valuers Lagos chapter has called on Governor Akinwumni Ambode to review the Land Use Charge Law, 2018.
Chairman of the NIESV Lagos branch Rogba Orimalade said this in Lagos over the weekend, adding that Land Use Charge should be based on the principles of taxation to ensure fairness.
According to Orimalade, “For the sake of transparency and best practices, when the valuation is concluded, a list should be produced and displayed in each local government area for all stakeholders to see.
“This will reduce the perception of arbitrariness and increase compliance. It makes it easier for stakeholders to compare their assessments with those of neighbouring properties.”
In addition, he stated that, “We are aware of government’s efforts to commence the enumeration exercise in the state.
“Through this process, the government will obtain the real values of the properties, while also providing the necessary data on the housing stock in the state.
“It is our opinion that after that exercise, more people would have been brought into the tax net, thereby reducing the tax burden on the few who presently are bearing the major brunt of the taxes, through reduced charges.”
The Land Use Charge is a consolidation of the ground rent, tenement rate and neighbourhood improvement levy by the Land Use Charge Law of 2018, first enacted in 2001, and payable on properties in the state.
