Johnson Sakaja's Gov't to Double Land Rates Signaling Higher Rent for Nairobi City Dwellers – Tuko.co.ke
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Landowners in Nairobi will pay double rates from January 2023 after the new county government led by Johnson Sakaja announced an increase in levies.
According to the Nairobi City Finance Bill, 2021, the new rates would be based on 0.115% of the current value of undeveloped land.
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A flat rate of KSh 2,560 will be levied for land not exceeding 0.1 hectares. Property owners with land exceeding 0.1 hectares but less than 0.2 hectares will pay KSh 3,200 per year.
Those owning land greater than 0.2 hectares but not exceeding 0.4 hectares will part with KSh 4,000.
Land with a size of over 0.4 hectares will attract a levy of KSh 4,800.
City Hall targets to collect at least KSh 6 billion by doubling the rates. The county collected KSh 2.75 billion in the last financial year against a KSh 5 billion target.
This will signal higher rent for Nairobians as landlords will pass the extra charges to tenants.
The increase in land rates in the city came after President William Ruto proposed a review of levies to expand the revenue base.
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The head of state was concerned that thousands of rich Kenyans in the city were not paying land rates.
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Source: TUKO.co.ke
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