Osun assembly passes land use charge bill
Here's a summary of the news:
OSUN ASSEMBLY PASSES LAND USE CHARGE BILL
The Osun State House of Assembly has passed the Land Use Charge Bill, 2023, aimed at generating revenue for the state government. The bill, which was presented to the assembly by the state government, seeks to replace the existing property tax law in the state.
According to reports, the bill provides for a new land use charge system, which will replace the existing property tax system in the state. The new system is expected to generate more revenue for the state government, which will be used to fund infrastructure development, healthcare, education, and other essential services.
The bill, which was passed after a thorough debate and consideration, provides for a 10% reduction in the initial charge for property owners who pay their land use charges promptly. It also provides for a 20% reduction for property owners who pay their land use charges within 30 days of the due date.
The passage of the bill is expected to boost the state's revenue generation and improve the overall economy of the state. The bill will now be sent to the state governor for assent before it becomes law.
Key Provisions of the Bill
- Replaces the existing property tax law in the state with a new land use charge system.
- Provides for a 10% reduction in the initial charge for property owners who pay their land use charges promptly.
- Provides for a 20% reduction for property owners who pay their land use charges within 30 days of the due date.
- Empowers the state government to collect land use charges from property owners.
- Provides for the establishment of a Land Use Charge Appeal Committee to handle disputes and appeals related to the payment of land use charges.
Reactions to the Passage of the Bill
The passage of the bill has been welcomed by some stakeholders in the state, who see it as a step in the right direction towards generating more revenue for the state government. However, others have expressed concerns about the potential impact of the bill on property owners and the economy of the state.
The Osun State Government has assured that the bill is designed to be fair and equitable, and that it will not unduly burden property owners. The government has also promised to use the revenue generated from the bill to improve the lives of citizens and develop the state's infrastructure.
Overall, the passage of the Land Use Charge Bill, 2023, is a significant development in Osun State, and it is expected to have a significant impact on the state's economy and revenue generation.