Take advantage of this land use redution to invest in properties in lagos state
Following extensive deliberations with stakeholders on the new rates payable by property owners under the Lagos State Land Use Charge (LUC) Law, the State Government on Thursday August 2, 2018 announced a major reduction in the rates and as well waived the penalty for late payments across board. The State’s Commissioner for Finance, Mr Akinyemi Ashade, who disclosed this while addressing a press briefing at the Bagauda Kaltho Press Centre in Alausa Ikeja on the outcome of dialogue with stakeholders, said the rates payable on commercial properties have been reduced by 50 per cent in response to the demands of the people. He said the government has also reduced the charges for owner-occupier with third party including industries and manufacturing concerns by 25 per cent, while tax credits has been given for LUC charges already paid in addition to introduction of installment payment system. Ashade, who addressed the briefing alongside dozens of Executive Council members an