Recall that Akinwunmi Ambode, the immediate past Governor in 2018 increased the charge from 0.0394 percent per annum to 0.076 percent per annum on a property solely occupied by the owner for Residential purpose.
While the rate for an investment property was increased from 0.394 percent per annum to 0.76 percent for a property fully occupied by tenants or third parties. However, due to the complaints and revolt from residents, the rate for commercial properties was reduced by 50% and 25% for owner-occupiers.
Fast Forward to the present Governor’s tenure, Lagos state government has cancelled the 2018 Land use charge.
At a press briefing which held today August 5, Rabiu Olowo, The state Commissioner for finance announced this development saying that the government has decided to forgo the land use charges for 2017, 2018, and 2019 which is totaled at N5.6 billion.
