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Property Revaluation Has Started in Accra

The Lands Commission has recently begun the arduous task to revaluate all properties in the metropolis.

Property Revaluation Has Started in Accra

The Accra Metropolitan Assembly (AMA) in collaboration with the Lands Valuation Division of the Lands Commission has recently begun the arduous task to revaluate all properties in the metropolis.

The revaluation has in its scope the inventory of all properties in Accra and possibly the revision of property rates, as well as revenue collection.

This exercise will assist AMA to determine and charge the appropriate property rates as per the findings and is expected to be completed in the following three months.

The revaluation officers within the various sub-metros have been moving from one property to the next in a special uniform and tags for identification purposes.

The Assembly has also provided a telephone line (0302906463) for verification purposes if in doubt of the identity of the revaluation officers, or for any further clarification and assistance.

The property value re-assessment process will be digitised to ensure better accuracy, speed and efficiency, and reduce any interference between property owners, the AMA and the Lands Commission.

The necessary information will be captured on mobile devices and sent to a central server. Citizens are encouraged to fully participate in this exercise and provide authorities with a database of property information

The exercise will increase the Assembly’s internally generated funds, establish a comprehensive and updated property database and hopefully put an end to the substantial losses in revenue from property rates.

The valuation consists in an estimation of a property’s worth, including the land, buildings, and additional constructions. The last property valuation was completed in 2006.

Ghana’s poor real estate inventory is one of the reasons for major property tax non-compliance and non-payment, which significantly affects the government’s domestic revenues.

The country’s government has announced last year major property tax reforms to improve collection rate among the citizens.

Read on gbcghana.com.

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