Tag Archives: property taxes

Owning a rental property in Nigeria sounds like a great idea, doesn’t it? You buy a property in a nice area, find tenants and let the cash flow. However, there are some matters you have to consider before owning a rental property. Below are a few pros and cons related to owning a rental property. The PROS of owning a ...

Human society the world over is heavily dependent on land and its resources. It is not an overstatement to say that without land there would be no human existence. In this article we take a critical look at land reforms and the future of Land use act in Nigeria. Man gets items very essential for his survival such as food, ...

Property tax (real estate tax) is charged on immovable property—land and structures that are permanently attached to the ground such as a house, building, or land. This article introduces you to the various types of Property taxes in Nigeria. Real estate tax is the same as property tax, though the latter is commonly used. Albeit the purpose of this article is not ...

The current administration of AMAC, has issued provisional rates for residential and commercial properties in the FCT. The rates vary from N200,000 to N8million depending on the type and location of the property. “Background The Nigerian Constitution empowers local governments to assess and levy tenement rates. However, during the last administration, the local authority – Abuja Municipal Area Council [AMAC] ...

“A pending bill before the Akwa Ibom House of Assembly aimed at taxing property owners in Uyo, the state capital, has become a subject of controversy among the lawmakers and the ordinary citizens alike. Known as Real Property Charge Bill, 2016 and sponsored by a member representing Esit Eket/Ibeno, state constituency, Usoro Akpanusoh, opposition to the bill has come from ...

I don’t think there is any living soul on earth that won’t love the idea of being a first time home buyer, neither are there persons who won’t want to own their own house. If there is, the person is probably not living. Nonetheless, as exciting as the feeling of buying a house/home is so is it easy to make ...

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 ...

The National Inland Waterways Authority (NIWA), last Tuesday, said property owners along the shorelines and other parts of Lagos State should not pay dues and levies to the Lagos State Government. NIWA’s directive came on the heels of a statement credited to the Attorney-General and Commissioner for Justice, Lagos State, Mr. Ade Ipaye, that NIWA had no constitutional authority or ...