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Ground Rent/tenement Rate. by Kingsley2021: 2:25am On Jul 20, 2020 |
Hello, I need some much needed advice. I bought a small single family residence in Abuja that I've rented out. In light of the article that recently came out regarding FCTA threatening property owners that have not paid their ground rent, my realtor reached out to me and asked if I have been paying. I told him that I've never heard of such not have I received a bill. He had not received a bill yet. I have reached out to some friends who also own homes in Abuja and I'm getting mix feedback. Most of them tell me that nobody pays ground rent or tenement rate although they are supposed to. They said I shouldn't worry but I find this to be odd. I can't even find any information about how much this ground rent in Abuja. So I decided to go to AGIS on Monday for clarification and a friend told me not to because they will give me a super high bill that will not be accurate and there is no guarantee that if I pay it will be recorded. Any ideas? And what's the difference between tenement rate and ground rent? Thanks in advance. |
Re: Ground Rent/tenement Rate. by Mokab007: 8:20am On Oct 22, 2023 |
Hi. The idea that they will give you exorbitant rate is no correct. Rates are determined based on location of your property. If you go to AGIS once you give them the copy of your land document they will pull out the rate that applies to your property from the system. Remember that’s regarding ground rent and it applies to FCDA allocation I believe and it is collected every year from the day land is allocated. As to tenement rate, this is rate that is under the purview of the area councils and it is often charged every year after full development of your property as such charge is based on property valuation, meaning your property type and size will determine how much you pay. They equally have a template for calculating this rate. Visit the relevant office for proper guidance as it applies to you. Thanks! |
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