Nairobi’s acting County Secretary, Jairus Musumba, has tabled a proposal for a new property valuation system, setting the stage for higher charges on property owners.
The official last week tabled a memorandum laying the new valuation roll before the ward representatives for debate and approval.
Ward representatives will upon return from the Christmas break debate the Draft Valuation Roll of 2019 that if adopted will lead to a rise in property and land rates and increase City Hall’s collections from the revenue stream.
Nairobi’s acting County Secretary, Jairus Musumba, has tabled a proposal for a new property valuation system, setting the stage for higher charges on property owners.
The official last week tabled a memorandum laying the new valuation roll before the ward representatives for debate and approval.
Ward representatives will upon return from the Christmas break debate the Draft Valuation Roll of 2019 that if adopted will lead to a rise in property and land rates and increase City Hall’s collections from the revenue stream.
The new rates remain undisclosed but will see City Hall collect more from the sector due to the sharp appreciation of land in Nairobi over the past two decades on increased appetite for real estate deals
Currently, property owners pay land rates at 25 percent of the unimproved site value based on the 1980 valuation roll, which City Hall reckons has seen it lose on the appreciation of plots over the years.
“I am therefore forwarding the following (Draft Valuation Roll 2019, cabinet memo that approved preparation of the valuation roll, Kenya Gazette notice that gazetted the valuers, rating area and date of valuation),” Mr Musumba said in the memo.
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