land speculators

wrongturn

wrongturn

Elder Lister
www.businessdailyafrica.com

Land value index plan to tame speculators

Kenya will roll out a value index to make the land market transparent and cut wasteful public project spending due to speculative activity that drives up costs.
www.businessdailyafrica.com www.businessdailyafrica.com

The State is set to roll out a value index to make Kenya’s land market transparent and cut wasteful public project spending due to speculative activity that drives up costs, the World Bank has said.

The long-awaited index is also expected to boost own-source revenue collection by counties from land property.

Kenya currently lacks standardised land value information—a loophole that has been exploited by cartels over the years to entrench fraud and exploitation in property prices.

Treasury Cabinet Secretary Ukur Yatani said the government would submit to Parliament a raft of subsidiary legislation on land valuation and compensation to pave way for the implementation of the index.

He said the regulations will include updated rules on land valuation Acts to ensure alignment with the Land Value Amendment Act 2019 and revisions to the Rating Act and Rating for Valuation Act to align them with devolution.

The roll-out of the land value index is part of conditions of a Sh80.9billion loan from the World Bank to help Kenya recover from Covid-19 economic hardships and support the budget.
 
Good, but cartels wataitikia hio story ama they will go the optiven route? Where they build a wall and a gate, call it value add and resort to doubling the value?
 
In Ethiopia, the government compensates land acquired based on how much tax you have been paying for the land.

Your land can't be valued at 10m for tax purposes yet you want to sell it at 5m to the same government.
 
Aviator said:
In Ethiopia, the government compensates land acquired based on how much tax you have been paying for the land.

Your land can't be valued at 10m for tax purposes yet you want to sell it at 5m to the same government.
Click to expand...
All developed countries and more organized ones generally use land public appraisals as guideline for land valuations. With that sort of structure in place no one can wake up one morning and decide that a piece of land that should be otherwise valued at 200K is now 5M. That is how Kenyan roads construction costs Ksh. 50 Million a kilometer.
 
wrongturn said:
www.businessdailyafrica.com

Land value index plan to tame speculators

Kenya will roll out a value index to make the land market transparent and cut wasteful public project spending due to speculative activity that drives up costs.
www.businessdailyafrica.com www.businessdailyafrica.com

The State is set to roll out a value index to make Kenya’s land market transparent and cut wasteful public project spending due to speculative activity that drives up costs, the World Bank has said.

The long-awaited index is also expected to boost own-source revenue collection by counties from land property.

Kenya currently lacks standardised land value information—a loophole that has been exploited by cartels over the years to entrench fraud and exploitation in property prices.

Treasury Cabinet Secretary Ukur Yatani said the government would submit to Parliament a raft of subsidiary legislation on land valuation and compensation to pave way for the implementation of the index.

He said the regulations will include updated rules on land valuation Acts to ensure alignment with the Land Value Amendment Act 2019 and revisions to the Rating Act and Rating for Valuation Act to align them with devolution.

The roll-out of the land value index is part of conditions of a Sh80.9billion loan from the World Bank to help Kenya recover from Covid-19 economic hardships and support the budget.
Click to expand...
Asking for a friend. Do freehold land owners pay landrates? I know leasehold owners do pay (can be charged)
 
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