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Challenges Association With Property Rating In Nigeria
[A Case Study of Abeokuta North Local Government Area]
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1.3 SIGNIFICANCE OF THE STUDY
The research shall be of immeasurable importance to the case study in particular and other local government area in Nigeria, because the research will provide possible solution to the local government area.
The research will also be useful to determine the effectiveness of the rate collection in Nigeria.
1.4 SCOPE OF THE STUDY
The study covers Abeokuta North Rating Authority.
The data for this project was based on the information collected from the following.
- Kunle Olubode and company and Muri-Adi and associate (Estate firms)
- Abeokuta North Local Government (The Local Government under study). The study will covers the amount realized from property rating since 2007 – 2011 in the Local Government.
- Respondents to questionnaires.
1.5 LIMITATIONS OF STUDY
(a) Non – availability of some important respondents as at the time of visits.
(b) Non availability of relevant textbook in the library.
(c) Financial constraint – Money sometimes, delay in carrying out some research.
(d) The time and stress involved in convincing respondents on the importance of the study.
1.6 STUDY AREA
Abeokuta North Local Government has its headquarters at Akomoje in the Iberekodo Area of Abeokuta Ogun State capital.
The Local Government first came into existence in 1981, as Abeokuta South Local Government the same year to make up the defunct Abeokuta Local Government it however re – emerged again on 27th September, 1991 when the federal government moved closer to the people at the grassroots.
The local government share common boundaries with the Odeda Local Government – North, Ewekoro local government – south, Abeokuta south local government – East, Yewa North local government – West.
Olumo rock is one of the most outstanding historical and socio – cultural landmarks in the Local Government Area and Abeokuta in general. The rock is situated in Abeokuta between Ikija and Ikehreku. It is 137 metres above the sea level. The rock is a massive outcrop of granite rock of primitive formation from which the state capital derives its name “Abeokuta†meaning under the rock. It served as a refuge for solders during the old Egba inter – tribal wars. Apart from the fact it is a symbol of faith, unity and strength it remains sacred in the history of Egba land.
Abeokuta North Local Government Area has a projected population (in 1994) of about 200,000 people more than 90% of the area is rural, although more than 75% of people live in the urban area of the Local Government.
But as at 2006 census, the population of Abeokuta North Local Government was 201, 329 people with the area of 808km2. The Local Government includes the Oyan Dam, an important source of water to the cities of Lagos and Abeokuta.
The local government has 77 public primary schools and 14 secondary schools with 16 wards.
1.7 DEFINITION OF TERMS
1. Property – Is the right that one has in land or goods to the exclusion of all others rights gained from the ownership of wealth.
2. Property Rating – This is a form of tax, levied on real property and it is normally charged at local level for raising the required revenue to carryout specific development project. This tax is aimed at promoting the total well being of inhabitants of the local community.
3. Rate Nairrage – This is the rate in the naira force, in the rating area where the hereditament is located. Such rate is often fixed periodically after considering the financial needs of the rating authority.
4. Capital value – This means the amount of money which may be obtained for an interest at a particular time from those individuals who are able and willing to purchase it.
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