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PROPERTY
RATING AS A SOURCE OF LOCAL GOVERNMENT REVENUE
ABSTRACT
This project
attempts on the discussion of property rate as a source of local government revenue.
It is centered on Oru-West Local Government in Imo state. Property rating or
tenement rating is the tax levied on the owners of properties that are
rateable. This work traces the history of property rating in Nigeria Local
Government. It states the definition of some basic terms. The aims of property
rating in Nigeria local government cannot be over emphasized. Owning to the obligations
and works laid on the hand of the local government authority, they engage in
tenement rating with the aim of getting the following: To increase the local
government revenue, to provide the poor with the need facilities, to encourage
the owners of building to develop them and development of the council unit and
the purchase of big machines. Rating has been used to discourage urban decay by
answering the big question of how to put cities in order. It is now noted
according to the fact from Oru-West Local Government that many houses has been
pulled down and new ones has been created because of effect of heavy taxation
on such properties. Although rating has been noted to be the best way of
getting money, there are some problems like lack of personality, skills,
equipments needed etc. which are discussed in detail in chapter four of this
project have been disturbing the free flow of ration of our economy.
TABLE OF
CONTENTS
Title page
Approval
page
Dedication
Acknowledgement
Abstract
Table of
Content
CHAPTER ONE
1.0 introduction
1.1 Background of the study
1.2 The historical development of property
rating in Nigeria
1.3 Research methodology
1.4 Some basic terms associated with Tenament
rating.
CHAPTER TWO
2.0 Literature Review
2.1 Property rating in Oru-West local
government
2.2 Need for revenue and rational for
property rating
CHAPTER
THREE
3.0 Method/Process of propery rating in
Nigeria local government
CHAPTER FOUR
4.0 Case study/Presentation and Analysis of
Data
4.1 Property rating as a source of local
government revenue
4.2 Why rating is the best means of local government
revenue
4.3 Problems of property rating in Nigeria
local government
CHAPTER FIVE
Conclusions
and Recommendations
CHAPTER ONE
1.0 INTRODUCTION
Property
rating which is also known as tenement rating is the rate or tax levied upon
the owners or occupiers of properties or tenements which are rateable. It is
the kind of tax or rate which is levied on the properties which are not
government or publics own. Rates from the main source of revenue to the local
government. The term tenement rating was not known until 1601 when the United
Kingdom introduced the poor relief fund gradually, the property rating began to
gain ground in the nations and especially Nigeria local government authorities
which I now a great source of the local government’s finanace not only for the
development of their areas of jurisdiction but to maintain these places e.g Oru
– West local government is one.
Before the
introduction or rating, the local government based their realization of fund on
the grants from the state and federal, borrowing from banks, Agriculture etc.
and some other way of fund realiation. The fact is that the money the
government got those days were not enough to pilot the affairs of their areas.
They were looking for ways on which they can embark on so to get adequate money
owing to the introduction of property rating, the government now have another
means of getting money.
The aim for
the introduction of property rating is to enable local government realize
adequate revenue that should be used in providing all the needed facilities
like pipe-borne water, electricity, access roads, good streets etc. for the
consumption of both poor and rich people.
Howeer, with
taxation by rate the amount of revenue required is fast decided and ths total
liability is then distributed amount the tax payers or rate payers. The maount
of the tax is fixed by dividing the sum to be raised by the aggregate rateable
value. The basis of assessment of the property rate is the rateable value of
land and buildings.
In Oru-West
local government Imo stae, the record has it that a handful of money was
realized from tenement rating. This helped them more than the agricultural
sector and other sectors in the area therefore, rating is of paramount help to
the world and Nigeria local governments in particular.
1.2 Historical Background of Oru-West Local
Government Area
Oru-West
local government was created in the year 1996 from the old Oru local
government. It is made up of ten towns namely: Ohakpu, Eleh, Aji, Nempi, Ozara,
Otulu, Ubulu, Amaofu, Ibiasoegbe and Mgbidi which is the headquarter of
Oru-West local government area.
It covers an
area of twenty-five kilometer with estimate population of 1.4 million
inhabitants. The people are mainly villagers and predominatly farmers. For
instance, Eleh people and known for cassava production, Otulu are known for
palm tree and plantain plantation, Mgbidi are known for poultry keeping, Aji
are known for yam production, Ibiasoegbe are known for livestock keeping and
management, Ozara people are known for fishing because of the large lake in
their town.
The local
government council headquater at Mgbidi was built and furnished by revenue
generated from property rating in the area.
1.3 THE HISTORICAL BACKGROUND OF PROPERTY RATING
IN NIGERIA
Property
rating in Nigeria is not entirely new. In the public services were very few.
Nevertheless roads, market places, chiefs palace, meeting squares were built
and maintained with communal efforts that is, individuals in the community contributed
their quota of crops and services for the up-keep and maintenance of all these
facilities. These contributions were nothing more than rates.
Our rating
system in Nigeria was derived from
Britain laws. The rating law in Britain originated with the poor relief
Act 1601 which provided for the levying of taxation on every occupier of land
houses etc towards the relief of the poor. This law is often called the statute
of Elizabeth of England.
Property
rating was first placed on the Nigeria statute book in 1915, this law was the
organized place of property rating as a source of local government finance. By
1958, the 1915 ordinance was modified and amended to form the assessment oridncance caps 15 and
16 laws of Nigeria and Lagos. In 1975, when the head of state, General Mohammed
came into power, there was a local government reform that is, the various local
government Edicts were enacted and this changed the property rating system. The
various states were empowered to enact local government Edict that presently
gae rating the legal backing with which it operates in Oru-West local
government Area, Imo state.
1.4 RESEARCH METHODOLOGY
Information
was collected from records pertaining to property rating in local government
secretariat, Journals, Oral interviews, lectures delivered on property rating
in the department of Estate management and discussions/interviews text-books
and project work.
1.5 SOME BASIC TERMS ASSOCIATIED WITH
TENEMENT RATING
In the
discussion of property rating as source of local government revenue one must
expect to come across some of the words that are associated with ratin. In the
first place let us take rating.
RATING: This
is defiend as the levying of landed properties in the form of taxes on their
uses, occupation and ownership which is used for the provision of facilities by
the local government that is, the third tier of government in their areas of
jurisdiction.
PROPERTY
RATING: This is a form of taxation, it can be tax on ownership or occupation or
use of a landed property i.e tenement rating it can be levy or tax on the head
of any taxable adult who resides or works within a local government area that
is, capitation rate. Howereer, property rating is the rate or tax levied upon
the owners or occupiers of properties or tenement which are retable. Rates form
the main source of internal revenue to the local government.
RATEABLE
VALUE: This is the amount of money which the rate nairage is applied on after
the deduction of outgoings and decapitalization amount which had been taken out
from the money. For instance, if a lessor gets say N1000 as the rent. He will
then remove the outgoings and the rate officers will decapitalize the amount
with capitalization amount say, 5% the remaining money is the rateable value.
RATE
NAIRAGE: This is the amount per naira payable as the rate on the net annual
value or rateable value of a property or heeditament in a particular year by the appropriate erating
authority. This is determined by calculating the total expenditure expected too
be done and then divide by the figure of the total ratable value of rateable
properties or herditaments in the rate nairage.
TENEMENT:
This means land with building which is help or occupied as a distinct or
separate tenancy or any pier but does not include land without building.
HEREDITAMENT:
The term herditament is the property which is liable to rate, it is shown in
the production as a seprate item. It include all physical land and building. It
is also the right or interest over a unit of a reatable property. Hereditament
can be physical or non-physical from the rating point of view.
DECAPITALIZATION:
This is the act of applying the decapitalize value say, 5% according to the one
chosen by the government so that the rateable value can be derived. In Nigeria
local government 5% is used for the decapilized amount. The aim of
decapitalization is to arrive at the amount which the rate to be paid. The
value gotten is known as the decapitalized value.
GROSS VALUE:
This is the rent at which a hereditament might reasonably be expected to let
from year to year if the tenant under took to pay all usual tenants rates and
taxes and the landlord under took to bear the cost of the repairs and
insurance, and the other expenses if any, necessary to maintain the
hereditament in a state to command that rent on the property.
NET ANNUAL
VALUE: This is an amount equal to the rent at which it is estimated that the
hereditament might reasonably be expected to let from year to year, if the
tenant under took to pay all, usually tenant’s rates and taxes, and to bear the
cost of repairs and insurance and other expenses if any, maintain the
hereditament in a state to command that rent.
ASSESSED
VVALUE: The assessed value refers to the value at which the tenement is for the
time being assessed in accordance with thte order made under section 106.
SCHEDULED
TENEMENT: This means a tenement in any local government area in the state.
RENTAL
VALUE: This is described as the open market rent paid or payable from year to
year in respect of the tenement in question or as established by analysis and
comparison of the general level of rent actually paid for that class of
tenement in that are of locality in case of controlled properties.
RATEABLE
OCCUPIER: It is not easy to give accurate and exhaustive definition of the word
“occupier”, occupation include possession as it’s primary element but it also
include something more, legal possession does not of it self constitute an
occupation.
However, the owners of a vacant house
is in possession and may maintain trespass against any one who invades it, but
as long as he leaves it vacant, he is not rateable for it as an occupier. If
howeer, he furnishes it, and keeps it ready for habitation whenever he pleases
to go to it, he is an occupier though he may not reside in it one day in a
year.
One other hand, a person who without
having any title takes actual possession of a huse or piece of land, whether by
leae of the owner or against has will, is the occupier of it.
Another element that is necessary to
constitute occupation is permeanence. An itinerant show man who erects a temporary
structure for his performance may be an occupier of the structure.
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