DAILY LAW TIPS by Onyekachi Umah,Esq. (Tip 128)
“What is Ground Rent, Who Should Pay and Who Should Collect It”.
GROUND RENT is tax charged and collected by a State Government on a land (both developed or undeveloped) having a certificate of occupancy. It is to be paid by a land owner (holder of a certificate of occupancy) within a given period. Ground Rent calculations by a state government is not affected by improvements, developments and structures built on land. State Governor can reduce or waive ground rent on a given land for public interest.
My authorities: sections 10, 16 and 17 of the Land Use Act.
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