What is Ground Rent, Who Should Pay and Who Should Collect It?

What is Ground Rent, Who Should Pay and Who Should Collect It?

DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 128)
What is Ground Rent, Who Should Pay and Who Should Collect It?

GROUND RENT is a tax charged and collected by a State Government on a land (both developed or undeveloped) that was granted by the state government. It is to be paid by a land holder 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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