The Lagos State Government has revoked the 2018 Land Use Charge.
The revised LUC was introduced by the government of former Governor Akinwunmi Ambode.
The revocation of the 2018 LUC was announced on Wednesday by the Lagos State Commissioner for Finance, Dr. Rabiu Olowo, at a news briefing.
Dr. Rabiu Olowo explained that “In 2018, there was an increase in Land Use Charge rate as well as the method of valuation of properties, this shock had a sporadic increase in Land Use Charge payable by property owners.
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“In view of the aforementioned, the current administration decided to review the Land Use Charge law by reversing the rate of Land Use Charge to pre-2018 while upholding the 2018 method of valuation.”
Penalties for Land Use Charge for Year 2017,2018 and 2019 have also been waived. This translates to N5,752,168,411.03 potential revenue waived by the State.
In additional to the re- introduction of the 15% early payment discount, an additional Covid 19 incentive of 10% will be granted on the total amount payable. This makes the total discount for early payment 25% if payment is made before due date
The penalty for obstruction of officials and damage to property identification plague has been reduced from N250,000 to N100,000
The penalty for inciting a person to refuse to pay LUC has been reduced from N250,000 to N100,000
The 2020 LUC Law introduced a 10% and 20% special relief for Vacant properties and Open empty land, respectively.
