Tag Archives: property tax

Taxes are known to be levies paid by citizens of a community for the services provided such as town halls, markets, roads, electricity e.t.c. The existence of taxes dates way back to the ancient communities where people pay either tribute or sweat tax to the local chiefs. Since the discovery of crude oil in the early 1960’s in Nigeria, the ...

The rising cost of renting houses in thriving Nigerian cities of Lagos, Port Harcourt and Abuja, which goes beyond the reach of potential tenants stretches the number of homeless people beyond borders. This development is worrisome in view of the huge housing deficit in Nigeria. Yet there is an increasing number of vacant homes; buildings that should have families albeit ...

Property tax can be defined as a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. This is in contrast to a rent ...

One-time billionaire and Yellowstone Club founder Tim Blixseth owes almost $74 million in back taxes, penalties and interest in Montana, state revenue officials said Tuesday, after a tax board ruled that the real estate mogul diverted huge sums from the luxury resort for personal use. Revenue officials said the Washington state resident and his former wife misappropriated more than $270 ...

The Lagos state land use charge law was instituted on 22nd June, 2001 to  replace the old tenement rate. The land use charge is designed to help the government generate additional revenue needed to develope the state in the light of increasing demand for provision of urban and rural infrastructures and other expenditure while a population that grows at an ...

The two chambers of the National Assembly have passed into law a bill which seeks the establishment of the Federal Capital Territory Internal Revenue Board. The bill, among others, empowers the Federal Capital Territory Administration to establish its own Internal Revenue Board which would have, among others, the legal powers to collect tax on property.According to the harmonised report of ...