Tag land use charge law of 2018

The Land Use Charge Law of 2018, also known as the Lagos State Land Use Charge Law, is a law enacted by the Lagos State Government in Nigeria to reform the land use charge system in the state. The law was signed into effect by the Governor of Lagos State, Akinwunmi Ambode, on June 21, 2018.

The main objectives of the law are to:

  1. Simplify the land use charge system and reduce the burden of multiple charges on property owners.
  2. Increase the revenue of the state government through a more efficient and transparent system.
  3. Encourage investment and development in the state by providing a more predictable and stable tax environment.

Some key provisions of the law include:

  1. The law applies to all properties in Lagos State, including residential, commercial, industrial, and agricultural properties.
  2. The charge is calculated based on the value of the property, with a minimum charge of N2,500 per annum for residential properties and N5,000 per annum for commercial and industrial properties.
  3. The charge is payable annually, and property owners are required to file a return and pay the charge by March 31st of each year.
  4. The law provides for a 10% discount for early payment of the charge, and a 5% penalty for late payment.
  5. The law also provides for a dispute resolution mechanism, with a committee established to hear and resolve disputes arising from the law.

The Land Use Charge Law of 2018 has been the subject of controversy and criticism, with some property owners and stakeholders arguing that the law is unfair and will lead to increased costs and hardship. However, the government has defended the law, arguing that it is necessary to increase revenue and improve the state's infrastructure.

Some of the key benefits of the law include:

  1. Simplification of the land use charge system, making it easier for property owners to comply with the law.
  2. Increased revenue for the state government, which can be used to improve infrastructure and provide public services.
  3. Encouragement of investment and development in the state, as the law provides a more predictable and stable tax environment.

However, some of the challenges and criticisms of the law include:

  1. High charges: Some property owners have complained that the charges are too high and will lead to increased costs and hardship.
  2. Complexity: The law has been criticized for being too complex and difficult to understand, which can lead to errors and disputes.
  3. Lack of transparency: Some stakeholders have raised concerns about the lack of transparency in the collection and allocation of the charges.
  4. Dispute resolution: The dispute resolution mechanism established by the law has been criticized for being slow and ineffective.

Overall, the Land Use Charge Law of 2018 is a significant piece of legislation that aims to reform the land use charge system in Lagos State. While it has its benefits and challenges, it remains to be seen how the law will be implemented and its impact on the state's economy and property owners.