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In a bold bid to increase the internally generated revenue of the state, Lagos Government has announced the distribution of the 2018 Land Use Charge demand notices for properties laying and situate state.
Commissioner for Finance, Mr Akinyemi Ashade, who made this known, said the distribution which commenced last week was delayed by a review of the old Land Use Charge Act by the State House of Assembly.
He said the review process entailed a repeal of the old law, public hearings and enactment of a replacement by the House of Assembly on January 28, before it was signed into law on February 8.
According to Ashade, the State House of Assembly decided to review the law in the light of some of the ambiguous and obsolete provisions that were found in the old Land Use Charge act.
“As noted by the Speaker of the Lagos House of Assembly, only a small fraction of taxable properties were actually remitting Land Use Charge to the government. To make matters worse, the land use charge rates had over time gradually become rather obsolete,” Ashade said.
In addition, fixing the rates payable by property owners was overtly inaccurate because the formula could be applied in a subjective manner rather than based on facts.
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