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Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com - Properties (2) - Nairaland

Nairaland Forum / Nairaland / General / Properties / Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com (6840 Views)

(WITH VIDEO) For Those That Want To Live And Work In A Tax Free Zone In Lagos. / See The New Outrageous Kano State Property Tax (pics) / 1.5% Property Tax. (2) (3) (4)

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Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by erico2k2(m): 8:03am On Sep 07, 2017
rhektor:

Disney I hear you say you can't drive your car in Nigeria without license? You must be outside Nigeria hearing news about Nigeria from Lie Mohammed grin grin grin grin
You can't police will stop you .I'm not talking about driving licence . I'm talking about your car motor licence the one you stick to your car windshield that has expiry date
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by Jaqenhghar: 8:07am On Sep 07, 2017
rhektor:
At least this will curb the excesses of some people, how could just one man be having up to 50 cars and be paying nothing on those cars? How could people build houses and not pay tax on them? And the tax collector will be chasing mama Nkenchi the food vendor and Nnamdi the spare part seller, Bashiru the mechanic and Segun the tailor about? As if it the the poor man that offended the government.
Nonsense
It wont curb anyrhing my friend. The tax collector finds it easier to prey on the mama Nkechis and the Bashirus. As for the rich they will always find a way around it. I dont see any revenue guy knocking on one big man's hoise demanding to know how many cars he has

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Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by wildchild02: 8:08am On Sep 07, 2017
It better be beneficial

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Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by cristianisraeli: 8:10am On Sep 07, 2017
Challenges in Property Taxation

No perfect policy exists due to challenges in human endeavours not even in a country where ‘stealing is not corruption’ in the words of the immediate past President of Nigeria. Thus, the following problems should be avoided and if possible eradicated to ensure a good tax system that ensures the attainment of public goods

ANOTHER APC WRITER.they would never leave GEJ out of their crap..GEJ did not say so...he said call a thief a thief.GEJ quoted a fomer judge..wetin lagos state they use all the whole tax do??

for the zombies....GEJ did not say the highlighted words above.zombies let it sink inside your zombie skulls

be careful when you quote me because am like a train with no brakes and i will crush you without mercy


https://www.youtube.com/watch?v=va32xNXmjd8

Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by Nobody: 8:13am On Sep 07, 2017
Biko is Land Use Charge not property tax?
I have no problem with them collecting the money as long as it is remitted to the Local govt since they are the ones we have access too and can beat at anytime if they try to embezzle our money. If those ones too can develop their local govt area e.g Tar roads on the street, make street lights, beef up securities, build and equip at least 5 health centres in each LCDA in Lagos (we too plenty), renovate govt schools and equip skill acquisition schools too. If they can't do anything them I ain't paying nothing. I remember one time one man brought tenement rate bill to our house and I collected it, my mum pulled my ears and told me to run after the man and put it back in his bag. Her excuse "I know how much I pay as tax every year yet the government has done absolutely nothing for me, now they want me to pay tenement rate."
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by erico2k2(m): 8:23am On Sep 07, 2017
cristianisraeli:
Challenges in Property Taxation

No perfect policy exists due to challenges in human endeavours not even in a country where ‘stealing is not corruption’ in the words of the immediate past President of Nigeria. Thus, the following problems should be avoided and if possible eradicated to ensure a good tax system that ensures the attainment of public goods

ANOTHER APC WRITER.they would never leave GEJ out of their crap..GEJ did not say so...he said call a thief a thief.GEJ quoted a fomer judge..wetin lagos state they use all the whole tax do??

for the zombies....GEJ did not say the highlighted words above.zombies let it sink inside your zombie skulls

be careful when you quote me because am like a train with no brakes and i will crush you without mercy


https://www.youtube.com/watch?v=va32xNXmjd8
ONLY THOSE WHO SCORED 2 IN COMMON ENTRANCE SAY STEALING IS CORRUPTION .
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by olaolaking(m): 8:43am On Sep 07, 2017
The taxation is good. But a man who spent 7 years before he can finish his simple 3 bedroom apartment should not be taxed. They should exempt all those "I manage to build" and tax only the mansions
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by erico2k2(m): 9:24am On Sep 07, 2017
olaolaking:
The taxation is good. But a man who spent 7 years before he can finish his simple 3 bedroom apartment should not be taxed. They should exempt all those "I manage to build" and tax only the mansions
Tax to do what?
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by Nobody: 9:30am On Sep 07, 2017
rhektor:


Thank you for your time however if people are paying as you claim I'm telling you it would not get to the level of excessive living maybe you don't know the principles of taxation

What is 'excessive living'? Please educate me.
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by armadeo(m): 10:17am On Sep 07, 2017
felixomor:
Countries that pay property tax dont run the type of politician-centred govt we run.

They provide social welfare, healthcare and infrastructure for their citizens.
They don't give their politicians fat allowances like us.

The govt is not serious to be demanding such.
Sorry to say


^^^^
Op this is why property tax should be rejected in Nigeria.

1 Like

Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by armadeo(m): 10:31am On Sep 07, 2017
rhektor:

Disney I hear you say you can't drive your car in Nigeria without license? You must be outside Nigeria hearing news about Nigeria from Lie Mohammed grin grin grin grin


Unless you are a commercial driver you would hate your life if you don't have a valid license and drive regularly. The amount police would collect from you in a month will make you run and get your license.

Pls keep driving without license till you are caught.
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by erico2k2(m): 10:42am On Sep 07, 2017
armadeo:



Unless you are a commercial driver you would hate your life if you don't have a valid license and drive regularly. The amount police would collect from you in a month will make you run and get your license.

Pls keep driving without license till you are caught.
Bro that guy don't even own a push bike let alone wheel spanner . He has no clue

1 Like

Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by ikp120(m): 11:22am On Sep 07, 2017
People retire after building houses and resort to the house they had built while in active service and rely on their pensions to offset their basic expenses. People lose their jobs after building houses, with their houses being their only hope (at least they're not under pressure to pay rent.)

My people use your heads. Life is not straight like mathematics where 1+1 is 2. In life, 1+1 may result in 32 or 43 or 5.

If I'm to be paying "rent" on a house that I laboured to build, then building a house IS such a futile waste of precious resources.

Average rent is 300k a year. 3 million will take care of 10 years' rent. 6 million will take care of 20 years' rent. 9 million will take care of 30 years' rent. 12 million will take care of 40 years' rent. 15 million will take care of 50 years' rent.

The average life expectancy is around 80 years (to be liberal with figures). For that 80 years, at a rent of 300k per year, the total rent I will have to pay is 24 million!!

Compare that the cost of building a house and you WILL see that in a situation where you have to pay "rent" on the house you own, it's just more economical to pay rent.

PS: The house I'm referring to here is purely residential for the builder, not for commercial or rental purposes
Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by Asu015(m): 11:45am On Sep 07, 2017
Anybody proposing that Tax should prevail in Nigeria is selfish, and enemy of the poor

1 Like

Re: Why Property Tax Must Be Fully Implemented In Nigeria | Nigeriarealestatehub.com by armadeo(m): 1:37pm On Sep 07, 2017
ikp120:
People retire after building houses and resort to the house they had built while in active service and rely on their pensions to offset their basic expenses. People lose their jobs after building houses, with their houses being their only hope (at least they're not under pressure to pay rent.)

My people use your heads. Life is not straight like mathematics where 1+1 is 2. In life, 1+1 may result in 32 or 43 or 5.

If I'm to be paying "rent" on a house that I laboured to build, then building a house IS such a futile waste of precious resources.

Average rent is 300k a year. 3 million will take care of 10 years' rent. 6 million will take care of 20 years' rent. 9 million will take care of 30 years' rent. 12 million will take care of 40 years' rent. 15 million will take care of 50 years' rent.

The average life expectancy is around 80 years (to be liberal with figures). For that 80 years, at a rent of 300k per year, the total rent I will have to pay is 24 million!!

Compare that the cost of building a house and you WILL see that in a situation where you have to pay "rent" on the house you own, it's just more economical to pay rent.

PS: The house I'm referring to here is purely residential for the builder, not for commercial or rental purposes


The value of rent in your analysis is flawed as rem depends on location and you won't get a good place for 300k in metropolitan areas.

Also you didn't take inflation into consideration. The rent cannot remain the same for 5 yrs talk of 80.

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