The Lagos State Government, yesterday, cancelled the 2018 Land Use Charge Law and reverted to the pre-2018 rates upholding method of valuation.
The administration of Mr. Akinwunmi Ambode had repealed the initial Land Use Charge law replacing it with an amended copy.
Consequently, the amended LUC Law 2018 received wide range condemnation from residents and stakeholders, describing it as "repressive and anti-masses."
The Commissioner for Finance, Dr. Rabiu Olowo and his Information and Strategy counterpart, Mr. Gbenga Omotoso, yesterday, announced the state government's decision at a media briefing in Alausa, Ikeja.
Olowo said the new LIC Law 2020 was a product of series of stakeholder meetings, designed to accommodate the agitations of residents and reduce the financial pressure on citizens as it relates to land use.
He said: "Still on reductions, another major sector that had its charge reduced is the agricultural sector, which annual charge rate for Agricultural land was reduced from 0.076 to 0.01 per cent. This is an 87 per cent, reduction from the old rate".
The government, however, re-introduced the 15 per cent early payment discount which has been increased by a 10 per cent, special COVID-19 incentive, making it 25 per cent when payment is paid before the due date.
"Unlike in the 2018 law pensioners now include retirees from private and public institutions in the state "or any person that has attained the age of 60 years and has ceased to be actively engaged in any activity or business for remuneration", exempting their properties from paying land use charge as well.
"Also, profit-oriented cemeteries and burial grounds, private libraries are no longer exempted from payment of Land Use Charge.
"We have completed the LUC Reform process and review of bills. Property owners should expect to receive their 2020 LUC bills shortly and we expect property owners to leverage on the 25 per cent early payment discount.
"Furthermore, the LUC payment can now be made Online via https://Lagos.ebs-rcm.com Payment can also be made using USSD Code to any of our designated banks with the appropriate code."