Consultant Advocates Deployment Of Property Tax To Housing Sector

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A property Consultant,
Makinde Ogunleye,has urged the Federal Government to use the property tax proceeds to tackle the various challenges facing the housing sector in Nigeria.
Ogunleye, a former chairman of the Nigerian Institute of Town planners (NITP) who made the call in an interview with newsmen in Lagos said that government should focus more on the administration of property tax so that its proceeds could be used to reduce the housing deficit in the country.
He said that property tax has been a major source of revenue to the government and that its proceeds could be higher if property tax evasion was adequately checked.
“Government can easily  increase its housing stock and curb unlawful activities of landlords if property tax  is effectively used for the provision of affordable housing in Nigeria,” he said.
According to him, the best way earnings from property tax can be increased is not  through the increase of tax rates, but through better enforcement and administration.
Ogunleye said “Increasing tax rates will place burden on those who pay the tax, whereas improvement in its administration will place the burden on those who evade tax.
It would be recalled that there had been agitations across the country on the change of method of management of various forms of tax being collected for the improvement, and provision of housing across the country.

 

Corlins Walter