By Dada Ahmed in Lokoja.
Kogi State Government says it is giving 40 percent relief off the value of the property of residents but this must be after such property has been verified by Professional and Certified Estate Survivors and Valuers.
This is contained in the pamphlets being handed over to visitors at the reception unit of the headquarters of Kogi State Internal Revenue Service in Lokoja, a copy of which our correspondent obtained on Friday.
In the pamphlet, KGIRS categorises the mode of the property into three; residential, commercial and residential (owner and third party), citing an example of a property valued at N10m.
According to the information, a landlord living in a residential property, alone with his family, will pay N4,560 per annum, saying the value is pegged at N10m.
The information added that a landlord that rents out his house to tenants only and he does not live in the house will pay N45,600 per year, also, assuming it is pegged at 10m..
The residential (owner and third party) category, involving a landlord living with his tenants in the same building will pay N15,360 for one year, say the property is also valued at N10m.
On the rationale for the new policy, KGIRS said that the land Use Charge, being a property tax, is an initiative designed to enhance revenue collection, improve infrastructure development,and ensure fairness in land-related transactions across the State.
According to the Service, the revenue realized from the Land Use Charge becomes necessary to help government generate revenue for public services, ensures proper valuation and documentation, and, simply, land taxation under unified system.
On who is required to the partake in the Land Use Charge, the Service said all property owners, including industrials and businesses,are required to pay the charge.
It, however, explained that some government-owned institutions, religious bodies,and non-profit organizations might qualify for exemption reliefs.
Responding to how the land use charge is calculated, KGIRS said that the charge is determined based on market-based property valuation techniques, Geographic Information System (GIS) mapping,and periodic property audits.
On payment, the revenue house said payments can be made through multiple channels, including mobile payments, online platforms, and designated bank branches, adding that automated invoicing and reminder will be sent to property owners to that effect.
On penalty, the Service stressed that late payments will attract penalties adding that continued non compliance might lead to legal action or enforcement measures.
“Properties are assessed based on their market value,size, location, and usage.The assessment process involves property valuation techniques and GIS mapping, the revenue organization said.
On where residents can access information or assistance regarding the land use charge, KGIRS urged residents to contact its Director of Property Tax on +2348034658257 or support@kslas.ng.
