Unreasonable land rate increases might turn out counterproductive

Land banking

 Counties have the legal mandate to draw up valuation rolls, based on which they levy land rates for properties within any rateable jurisdictions.

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Affected by the recent sharp increase in land prices in Ruiru, Kiambu, a few owners sought my advice. Incidentally, I’d been privy to a case where the land rates of a parcel within the periphery of Kiambu town had shot from Sh10,000 to about Sh170,000. This is a huge increment. I suspect that many other proprietors in the county have silently agonised over such disproportionate increments.

Let’s be rational on this matter. Counties have the legal mandate to draw up valuation rolls, based on which they levy land rates for properties within any rateable jurisdictions.

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Note: The results are not exact but very close to the actual.