Effects of Property Tax on Sustainable Housing Delivery in Nigeria

Effects of Property Tax on Sustainable Housing Delivery in Nigeria

Project / Seminar Material
Reference ID: PS-8685-TM

DEDICATION

This research material titled “Effects of Property Tax on Sustainable Housing Delivery in Nigeria” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Environmental Science, Book Authors and Profound Scholars of existing or related project material on “Effects of Property Tax on Sustainable Housing Delivery in Nigeria” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

ABSTRACT

Increasing demand for urban and rural infrastructures and dwindling revenue allocations in Nigeria have informed the Lagos State Government to promulgate Land Use Charge Law (2001) as a way of increasing internally-generated revenues through property tax. The Law stipulates a formula for assessing the Charge payable on properties in Lagos State, amongst other provisions. The aim of this paper is to determine the short- and long- term effects of the law on housing delivery which is one of thematic areas of Vision 20:2020 for Nigeria.

A process of inferences was adopted to evaluate the law in addition to questionnaires administered on Estate Surveyors and Valuers within Lagos metropolis. The study found that the formula is inappropriate and that high tax and penalties may discourage investment in new housing and maintenance of existing stock. It therefore recommended a review of the Law and in addition suggested an appropriate basis of fair and equitable tax such that the goal of Vision 20:2020 can be realizable.


Effects of Property Tax on Sustainable Housing Delivery in Nigeria

CHAPTER ONE


Introduction

Conceptually, Nigeria’s economic potential is well recognized as the biggest economy in the West Africa sub-region with considerable resource endowment being a pointer to strong growth. However, very little of such potential seems to have been realized. This is associated with unsustainable planning and visioning, economic stagnation, declining welfare and social instability in the past thirty years. The main objective of Vision 20:2020 is therefore to make Nigeria one of the twenty largest economies in the world with ability to consolidate its leadership role in Africa and establish itself as a significant player in the global economic and political arena by the year 2020.

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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