Governor Akinwunmi Ambode-led Lagos state government on Thursday announced a major reduction in the Land Use rates and as well waived the penalty for late payments across board.

Commissioner for Finance, Mr Akinyemi Ashade, who disclosed this while addressing a press briefing at the Bagauda Kaltho Press Centre in Alausa on the outcome of dialogue with stakeholders, said the rates payable on commercial properties have been reduced by 50 per cent in response to the demands of the people.

He said the government has also reduced the charges for owner-occupier with third party including industries and manufacturing concerns by 25 per cent, while tax credits has been given for Land Use Charge, LUC, charges already paid in addition to introduction of installment payment system.

Giving a breakdown of the reduction, Ashade said for commercial property owners who were mostly affected by the amended law, a property valued at N20million for instance which was earlier billed N91,200 will now pay N45,600 per annum as a result of the 50 per cent discount, while property occupied by owner, third party and property used for industrial and manufacturing purposes will now pay N23,040 per annum on a property valued at N20million as against the earlier N30,720 based on the 25 per cent discount.

On owner-occupied property, the Commissioner explained that for a property valued at N20million, only N7,752 will now be paid per annum as against N9,120 earlier demanded based on 15 per cent discount.

Source - Daily Mail

#Bringbackfashola.

Ambode didn't now to anything....
that's exactly where they want it initially.....they know lagosians will para like hell...so they shoot it up to make it look like they are reasonable pple when they bring it down ......

We are just shouting for nothing..money that we will pay and still go and queue up, stress our selves at the bank to pay...... The best thing we are good at is adjusting to oppression...

amboda wey don dey thief since d time of him oga

I think Ambode did a good job in listening to the voice of Lagosians and going even further to adhere to their cry by reducing the land rate charge. Its a great sign when a Government takes seriously the issues of Lagosians or Nigerians in general.

Kudos to Ambode and to Lagos.