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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 learnt to live together in an organized community. In Africa society for instance, grown up males are often participating in a communal labor to maintain the path way leading to 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 under study started the exercise was 1996, while they did re-assessment in 1995, up till date.
The local government in responsible for collection of the tenement rate but they are proposing to give it to a quality estate surveyor and valuers who is 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.
TABLE OF CONTENT
Table of contents
1.1 Statement of problem
1.2 Aims and objectives
1.3 Significant of the study
1.4 Scope of the study
1.5 Limitation of the study
1.6 The study area
1.7 Definitions of terms
2.0 LITERATURE REVIEW
2.1 Historical background of property rating in Nigeria
2.2 Method of rating assessment
2.3 Property rating authority
2.4 Rating authority
2.5 Types of property tax
2.6 Major types of property
2.7 Property rating process
2.8 Tenement rate as a source of revenue generation
3.1 RESEARCH METHODOLOGY
3.3 Research design
3.4 Population o the study
3.5 Sample of the study
3.6 Sample size
3.7 Sampling technique
3.8 Data for the study
3.9 Instrument for data collection
3.10 Design of questionnaire
3.11 Procedure for the administration of the questionnaire
3.12 Procedure for the collection of data
3.13 Tools for data analysis
3.14 Problems encountered
4.0 DATA INTERPRETATION AND ANALYSIS OF DATA
4.2 Analysis of data
4.3 Analysis of questionnaire
4.4 Interpretation of data
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary of findings
Property rating is a form of tax levied on real property and it is normally charged at local level for raising the revenue to carry out specific developmental projects. These rates are levied annually on owners or occupiers of landed property. It is charged on the annual value of occupation of the tenement and should reflect the income earning capacity of the built up landed property.
Historically, rating system has its origin in the Poor Relief Act, 1601 generally referred to in Britain as “the statute of Elizabeth”. This system inherited from Britain in 19th century has been recognized as a potentially rich source of raising fund within a Local Government Area for the purpose of providing and maintaining essential services and amenities in the rating area – such as roads, market squares, motor parks, communal halls are maintained through communal efforts. Individual in the community contribute their income and services for the up keep in their leaders’ household.
It is the present day made of living and modernization that brought about the present sophistication and form of its application and collection. The local government now takes some of the roles formerly played by the Obas, Obis or Emirs which are presently more complicated like provision of electricity, schools, roads, clinics, refuse proposal services etc.
The first real attempt to property rating was through the federal government guideline for local government reform of August, 1976. This document was designed to give guidelines on the structure, finance and administration of local government in the federation. The document introduced a pattern of rating law for the entire country and since then, all estate government have based their Rating Edict or Laws on it with very little modification. If is important to know that the major principles of the rating system in Nigeria is to defray the Local Government expenses. For example, that of Ogun state was called Tenement Rate Edict of 1995, where property types were zoned and appropriate unit was adopted. Thus the x – ray of the system in Nigeria was that of Tenement Rating, where value of the property for rating purpose is ascertained by a qualified estate surveyors and valuers and a percentage of the property is multiplied by a rate Nairrage to be adopted by the Rating Authority.
Property Rating is a viable or stable source of revenue generation, though 70 – 80% of the total revenue to the local Government. In Nigeria is from the federal statutory allocation.
This Rating is a way of broadening the financial base of Local Government to provide necessary facilities for its subject.
Other source through which the Local Government can raise funds are, insurance of death and birth certificate, approval of plans, revenue from motor parks and market, insurance of license etc.
1.1 STATEMENT OF PROBLEMS
The problem associated with rate collection cannot be underestimated. That is why many Local Governments have not being embarking on the implementation.
It is important to say that rating can only be effective when certain conditions such as street numbering, culture, qualified personnel, population etc have to be taken into consideration. Many Rating Authorities did not consider these that is why collection of rate is very tedious.
2.1 AIM AND OBJECTIVES
The aim of this study is to examine the challenges associated with Property Rating in Abeokuta North Local Government of Ogun State.
– To identify the rateable hereditament in the case study.
– To examine the process of assessment of reteable properties within the case study.
– To evaluate level of awareness of property rating by general public especially in the study area.
– To identify the challenges of property in the study area.
– To recommended possible solution to problem, the Local Government is facing as a result of rating exercise.
1.3 SIGNIFICANCE OF THE STUDY
The research shall be of immeasurable importance to the case study in particular and other local government area in Nigeria, because the research will provide possible solution to the local government area. The research will also be useful to determine the effectiveness of the rate collection in Nigeria.
1.4 SCOPE OF THE STUDY
The study covers Abeokuta North Rating Authority. The data for this project was based on the information collected from the following.
– Kunle Olubode and company and Muri-Adi and associate (Estate firms)
– Abeokuta North Local Government (The Local Government under study). The study will covers the amount realized from property rating since 2007 – 2011 in the Local Government.
– Respondents to questionnaires.