Lagos Say Authorities has revoked the 2018 Land Consume Payment (LUC).
It used to be implemented by veteran Governor Akinwunmi Ambode.
Commissioner for Finance, Rabiu Olowo, made the announcement on Wednesday.
He mentioned the authorities reverted to pre-2018 land employ costs.
The land employ costs for 2017, 2018, and 2019 absorb also been waived.
In reaction to criticisms, the Ambode administration lowered the costs.
Final December, the Lagos Say Home of Assembly amended the law.
This used to be after the Ad Hoc Committee, chaired by Rotimi Olowo, presented its narrative.
Olowo mentioned stakeholders at a public hearing agreed that the construct bigger used to be arbitrary and entreated Lagos to revert to the residing quo of the 2017 LUC.
They demanded that vacant space of land and unoccupied properties be exempted from the LUC liabilities.
The narrative mentioned in Half 1(2), “Pensioner” can also merely nonetheless be redefined to embody all retirees resident in Lagos from federal, convey institutions, and from each and each inner most, corporate organizations within the convey.
It mentioned increment referred to in sub-fragment (1) can also merely nonetheless be renewable each and each 10 years and that the property owner is at likelihood of pay the LUC of any taxable property.
The narrative posited that for Half 17(c) (i), there used to be no need for 50 percent cost by an aggrieved owners over disputed costs sooner than their eligibility to charm.
It accredited that aggrieved residents/owners pay the previous one year’s costs whereas the disputed costs are being resolved.
The narrative in truth helpful magnificent classification of commercial and residential properties Lagos for the cause of levying costs.
It extra in truth helpful 20 percent construct bigger from the charges chargeable sooner than the repeal of the LUC Law Ch. L79 2015.