…..Waives Penalties for Last 3-Years
The Lagos State government has reduced the Land Use Charge (LUC) rate by 48 percent.
The Commissioner for Finance, Dr. Rabiu Olowo, disclosed the review of the LUC during a press briefing on the 2020 New Property Land Use Charge Reforms Law, organised by the Ministry of finance in Alausa, Ikeja, on Wednesday, saying the reform became very necessary to accommodate the agitations of Lagosians and reduce the financial pressure on citizens as it relates to Land Use.
Recall that the LUC rate was increased in 2018 under former administration of Akinwunmi Amode.
Olowo said: “As you are aware in 2018, there was an increase in Land Use Charge rate, as well as the method of valuation of properties, this Twin shock had a sporadic increase in Land Use Charge payable by property owners.
In view of this, Olowo said, the Babajide Sanwo-Olu “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.”
The commissioner said thereform also considered multiple Land Use Charge payment channels and efficient customer service management by setting up a call centre (0700 LAGOS LUC) in order to ensure prompt issue resolution.
Also, the state government has waived penalties for Land Use Charge for Year 2017, 2018 and 2019 .
This, Olowo said, translates to N5,752,168,411.03 potential revenue waived by the state.
The penalty for obstruction of officials and damage to property identification plague has been reduced from N250,000 to N100,000, the commissioner said, adding that “the penalty for inciting a person to refuse to pay LUC has been reduced from N250,000 to N100,000.