chibike69:
finally I don make am



FTC!!!



sekem sekem sekem


oya wey my money abi award

felixomor:
Countries that pay property tax dont run the type of politician-centred govt we run.

They provide social welfare, healthcare and infrastructure for their citizens.
They don't give their politicians fat allowances like us.

The govt is not serious to be demanding such.
Sorry to say

jmichlins:
na on top tax matter you go make am. Good and better news dey purge you?

rhektor:
At least this will curb the excesses of some people, how could just one man be having up to 50 cars and be paying nothing on those cars? How could people build houses and not pay tax on them? And the tax collector will be chasing mama Nkenchi the food vendor and Nnamdi the spare part seller, Bashiru the mechanic and Segun the tailor about? As if it the the poor man that offended the government.
Nonsense

erico2k2:

This is what happens when you speak about stuff yoy know nothing about . I bet you do t have a car cos if you did you will realize owning 50 cars means paying 50 vehicle licenses ? 50 road worthyness
So the same thing a one car person pays as statutory is what he will pay 50 .
People already pay taxes in different forms with the govt having nothing to show for it.
Permission and urban planning and other development fess for my house cost me over N1m in PHC . Yet the govt ha e nothing to show as regards what they use such money for.
What they are proposing is called Council Tax where I live . The owners of the houses do not pay but tenants . And if your house is empty you do t pay unless inhabited .

lummyglow:
In 2001, the Lagos State Government promulgated the Land Use Charge law in response to the increasing demand for provision of urban and rural infrastructures occasioned by dwindling federal revenue allocations. 14 years later the land use charge law is still not widely accepted. Majority of Lagosians don’t even see the justification or the rationale for its promulgation, a lot more also feel its only another avenue to milk the masses dry.

Also, it was perceived in some quarters that the amount of charge payable which is considered to be inappropriate would be a major setback to the fulfillment of the law. There have even been arguments that the high charge and the penalties involved would discourage investment in new housing and maintenance of existing stock. Recently Abuja followed suit and before you batt an eyelid it could take full swing in the entire polity. Reason why it becomes paramount that the issue of the full implementation of property tax in the country needs a surgical procedure

What is Property Tax

Property tax is generally a tax imposed by municipalities upon owners of real property within their jurisdiction based on the value of such property. This form of tax is reported to be one of the most stable sources of revenue to governments however most state and local governments in Nigeria are yet to tap revenue from this form of tax. In developed countries, revenue generated from this tax is used to provide basic amenities to the people.

Throughout the world property taxes are commonly employed as the main source of locally generated revenue for the good reason that there is no other major source of taxation revenue that is exactly geographically defined. It is possible to use local income taxes and/or local sales taxes for generating local government revenue but both have difficult administrative problems. Local revenue may be generated from other sources, particularly rents from local government owned properties. In some cases, local income taxes are an important source of revenue. In many cases, however, property tax is the main source of revenue (and even when local income taxes exist, it may be easier for a local government to modify the property tax rate than to adjust the income tax rate).

Challenges in Property Taxation

No perfect policy exists due to challenges in human endeavours not even in a country where ‘stealing is not corruption’ in the words of the immediate past President of Nigeria. Thus, the following problems should be avoided and if possible eradicated to ensure a good tax system that ensures the attainment of public goods

Assessment and valuation inconsistencies: Determining the appropriate rate of tax most times requires expert opinion and usually this is not available. Very skilled personnel are needed to carry out this activity. This greatly affects the accuracy of collected data. Lack of skilled manpower leads to under-valuation thus reducing government’s revenue, while over-assessment results into disputes which may delay payment of property taxes.

Illiteracy and ignorance: This has over time been seen as a major hindrance to the collection of property taxes. To a great extent, affected individuals either do not see a need/importance of it or they do not know anything about it. More so, a lot of Nigerians have lost faith in our government. They see it as another avenue created by the government to take the masses on a reckless ride to poverty Inn

Legal documents: The statutory nature of property taxation makes it necessary to be provided with appropriate legal documents or aiding laws to back up its activities. Most times these documents either are not in existence in the region or they fall short of some provisions. To ensure successful property taxation in the country, tax laws need to be either created or modified to fit present day activities.

Attitude of the tax payer and taxing authority: No one wants to pay tax to the government on the protest that they do not know what the tax is used for. However they still need public facilities

Prospects of Property Taxation

The choice for a good tax for local governments is limited compared to both the choices of federal and even state governments in Nigeria. This is because the higher levels of government are larger, cover jurisdictions having larger populations and have a greater capacity for tax administration if effectively managed. A number of conditions should be met for a tax to be a good tax that meets the challenges of the 21st century
The revenue of a good tax at all levels should increase over time in order to match the natural growth in costs and to fulfil the growing needs of public services.
Taxes should not be too sensitive to cyclical fluctuations.
A good local/state tax should be distributed relatively equally among local governments. Equalisation of the revenue between local governments may be required to enhance differences in access to tax base.
There should be a close relationship between the citizens who pay and the citizens who benefit.
The tax administration should be inexpensive to administer, i.e. the tax yield should be much higher than the administrative costs. A realistic target is that the cost of administering a property tax should be significantly less than five percent of the revenue generated.
The administrative cost is arguably the biggest constraint to the growth of the property tax. It is just too expensive, and too hard to properly levy and enforce. So, countries are turning increasingly to “shortcuts” to address this problem. The introduction of the notional valuation based on location and area, self-assessment, indexing between valuation periods, and the exemption of the hard to tax properties are all examples of such shortcuts.
If the government of any state in the federation is hell-bent on implementing property tax in their localities, then the right steps must be taken for its acceptability. If the citizens cannot see the genuineness in the government’s approach towards the implementation of property tax then it will be a lost cause. The following must be put on the front burner for the implementation of a property tax regime.
A comprehensive study should be made, by the government of states that are yet to instigate a property tax regime and its relevant authorities, in the states reported to having administered one form of property tax or another to see how these taxes were brought into law, how they are administered, the revenue/ benefits derived and what challenges are faced.
More professional staff both estate surveyors and valuers, and tax administrators should be employed by the government in both the Ministry of Lands and Housing and States Board of Internal Revenue as this will bring in people with professional knowledge and expertise with regards to this tax, who will bring about the realisation of these taxes in the states of the federation.
Detailed and up-to-date records should be kept of properties in the various states as this will enable the government in assessing taxable properties when finally the collection of such taxes is fully enforced. This is necessary if a successful property tax administration is to be achieved.

The success of determining property tax largely depends on proper land registration and adequate documentation. These are however the major low-points hindering effective land management in Nigeria.

What’s your thought on the possibility of a full implementation of property tax in the entire country?


You can read more on Property Tax and other articles like this at nigeriarealestatehub.com (nigeria's number one real estate information portal)

rhektor:


Thank you for your time however if people are paying as you claim I'm telling you it would not get to the level of excessive living maybe you don't know the principles of taxation

rhektor:
At least this will curb the excesses of some people, how could just one man be having up to 50 cars and be paying nothing on those cars? How could people build houses and not pay tax on them? And the tax collector will be chasing mama Nkenchi the food vendor and Nnamdi the spare part seller, Bashiru the mechanic and Segun the tailor about? As if it the the poor man that offended the government.
Nonsense

erico2k2:

You can't drive your car in Nigeria if you don't have your car licenced .for one hour . You will B forever bribing police besides it cost less than 30k to do it yearly.
About taxation trust me I know more than most Nigerians cos I live in England .

makems:
My dear,don't be quick to rejoice Because of people having 50 properties. It does not bother them. All they need do is increase rent. the poor are d ones to suffer it. Avenue for landlords to increase rent.