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Challenges associated with property rating in Nigeria

 Department:Estate Management  
 By:usericon peterjohn  

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Abstract
Property rating is not a new phenomenon in history it is as old as a man himself. The payment of tax was originated as man learned to live together in an organized community. In Africa society, for instance, grown-up males are often participating in communal labor to maintain the pathway leading to the village, farm kinds, construction of roads, public square. In view of the above historical facts, Abeokuta North Local Government Area is been involved in the course of rating exercise. This was backed up by the tenement rate edict of 1995, an edict that makes provision for the levying and collection of tenement rate on properties in Ogun State. The effective year that the local government understudy started the exercise was 1996, while they did re-assessment in 1995, up till date. The local government is responsible for the collection of the tenement rate but they are proposing to give it to a quality estate surveyor and valuers who are capable to collect the rates. This study is meant to confirm the challenges of property rating within the period of 1996 till date as well as to evaluate some of the benefits and problems confronting the success of rating exercise and the importance of property rating which make it serves as a durable source of revenue to the local government. ...
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