…Pardons payment defaulters from 2017 to 2019
The Lagos State Government, today, made several changes to the 2018 Land Use Law which generated lots of controversies in the last administration.
The government cancelled 2018 Land Use Charge Law, reverted to pre-2018 land use charges but maintained the 2018 valuation, according to the Nation
In a press conference, the Commissioner for Finance, Dr Rabiu Olowo said that defaulters of land use payment from 2017 to 2019 were forgiven, a decision that has cost the government a loss of N5.6 billion in revenue.
The new 2020 Land Use Charge, the government said was designed to resolve complaints by Lagosians and reduce financial pressure on residents.
In the new law, penalties are reduced by 15 to 50 per cent and yearly charge rates are reduced by 48 per cent for different properties. Early payment discount is also increased to 25 per cent.
“Still on reductions, another major sector that had its charge reduced is Agricultural sector, which annual charge rate for Agricultural land was reduced from 0.076% to 0.01%. This is an 87% reduction from the old rate.
The law exempts pensioners — from private and public institutions in state or persons who are above 60 years and no longer engaged in any activity for profit – and their properties from paying land use charges.
“Profit oriented cemeteries and burial grounds are no longer exempted from payment of Land Use Charge.
“We have completed the LUC (Land Use Charge) Reform process and review of bills. Property owners should expect to receive their 2020 LUC bills shortly and we expect property owners to leverage on the 25% early payment discount,” Olowo said.
What is Land Use Law?
It’s a law that makes provision for the consolidation of property and land-based charges and makes provisions for the levying and collection of land use charge.
It was first passed into law in Lagos State in 2001. It was repealed and another one was passed by the State’s legislators passed another law on January 29, 2018.
The charges are calculated by multiplying the market value of the property by the annual charge rate. In the 2018 LUC law, a professional valuer, appointed by the Commissioner of Finance, determines the market value.
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