The Lagos state government has reverted to the pre-2018 land use charges and also waived penalties for defaulters in payment of the land use charge for 2017, 2018 and 2019.
The state commissioner for Finance, Dr. Rabiu Olowo announced this on Wednesday, August 5 at a press conference in Lagos.
While upholding the 2018 method of valuation, the government also cancelled 2018 land use charge after reverting to the pre-2018 land use charges.
Olowo also announced that the new law reduces the penalties for defaulters from between 25 to 100 per cent to 10 to 50 per cent; there is also a 48 per cent reduction in the annual charge rates for different properties.
The government also re-introduced the 15 per cent early payment discount which has been increased by a 10 per cent special COVID-19 incentive making it 25 per cent when payment is paid before due date.
Unlike in the 2018 law, pensioners now include retirees from private and public institutions in the state (or any person that has attained the age of sixty (60) years and has ceased to be actively engaged in any activity or business for remuneration) and their properties are exempted from paying land use charge, the Nation reports.
Olowo said, “profit oriented cemeteries and burial grounds are no longer exempted from payment of Land Use Charge,” same thing goes for private libraries.
Olowo said, “We have completed the LUC 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.
“Furthermore, the LUC payment can now be made Online via https://Lagos.ebsrcm.com Payment can also be made using USSD Code to any of our designated banks .”
Daily Times recalls that he Lagos state government had announced that it will revert to the pre-2018 land use charge rate to reduce the financial pressure on citizens in June.
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