Lagos State Government has cancelled the 2018 land use charge and reverted to pre-2018 land use charges. “In 2018, there was an increase in Land Use Charge rate as well as the method of valuation of properties, this shock had a sporadic increase in Land Use Charge payable by property owners,” he said. “In view of the aforementioned, the current administration decided to review the Land Use Charge law by reversing the rate of Land Use Charge to pre-2018 while upholding the 2018 method of valuation,” the commissioner said. The government also waived penalties for land use charge for 2017, 2018 and 2019, which according to the Commissioner translates to a loss of revenue amounting to N5.6bn. “This makes the total discount for early payment 25 per cent if payment is made before the due date,” he said.

Source: The Guardian August 05, 2020 11:03 UTC