The Lagos State Commissioner for Finance, Dr Rabiu Olowo announced at a press briefing on Wednesday that the State Government has revoked the 2018 land use charge.
Olowo said that the land use charges for 2017, 2018 and 2019 have also been revoked.
He further mentioned the government has reverted to the pre-2018 land use charges.
In his statement, Olowo mentioned that the review is to reduce the land-use financial pressure on Lagosians.
Olowo said, “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”.
His statement further quoted him as saying, “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”.
“In addition to the reintroduction of the 15 per cent early payment discount, an additional COVID-19 incentive of 10 per cent will be granted on the total amount payable. This makes the total discount 25 per cent for early payment if payment is made before the due date”.
He also stated, “The penalty for the obstruction of officials and damage to property identification plague has been reduced from N250,000 to N100,000 while the penalty for inciting a person to refuse to pay Land Use Charge has been reduced from N250,000 to N100,000”.
His statement ended with this, “The 2020 Land Use Charge Law introduced a 10 per cent and 20 per cent special relief for vacant properties and open empty land respectively”.