Business News of Friday, 24 May 2019Source: classfmonline.comProperty rates to go up – AMANii Adjei-Sowah (m) is Accra MayorAccra mayor Nii Adjei-Sowah has revealed that property rates will go up. The mayor said the Accra Metropolitan Assembly is engaging with the public on the matter before the new rates are announced. He said property rates are the main source of the assembly’s internally-generated fund but added that any rates implemented will be fair for property owners. Presenting findings from a research conducted using data from the AMA on residential properties in the capital finance, Professor Dennis Philip from Durham University in the UK pointed out the need for an incentive structure to encourage the payment of property rates. Professor Philip said infrastructure development and provision of amenities in communities are important to serve as motivation for residents to pay property rates.

Source: GhanaWeb May 24, 2019 12:33 UTC