Project materials for An Evaluation Of Property Rating Practice In Nigeria from chapter one to five
ABSTRACT
In writing this thesis, I have been afforded an opportunity to put in writing my views about AN EVALUATION OF PROPERTY RATING PRACTICE IN NIGERIA (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT AREA) of Enugu State.
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This thesis has been planned in such a logistic and sequential pattern to give the reader a general clue of property rating practice and how it operates Enugu North local government area particularly.
Chapter One: This captioned the Introduction. The particular chapter gives the overview of the whole paper ie. What the reader is expected to arrive at after reading the entire essay.
Chapter Two: This dealt with a review of related literature in property Rating; Tenement Rating Assessment; method of rating valuation; Appeal machinery and their procedures.
Chapter Three: Examined the Research methodology and design. Also presentation and analysis of data used in this research work.
Chapter four: Focus on the history of the case study and problems and constraints of property rating in the case study area.
Chapter Five: Finally chapter five presents the findings, recommendations and conclusions. The researchers perspective from findings, The recommendation is for future prospects of property Rating in Enugu North Local Government Area of Enugu State in particular and conclusion is for the entire paper.
TABLE OF CONTENTS
Title Page
Dedication
Acknowledgement
Certification
Abstract
List of Figures and Tables
Table of Contents
CHAPTER ONE
Introduction
Background of Study
Statement of the Problem
Objective of the Study
Scope and Limitation of the Study
Research Question
Definition of Important Terms
CHAPTER TWO
Historical Background of Property Rating in Nigeria
Tenement Rating Assessment
Exemptions and Relief’s
Methods of Rating Valuation
Preparation and Publication of Valuation List
Appeal Machinery
Collection and Enforcement
Undesirable Practices in Rating Administration
CHAPTER THREE
Research Methodology
3.1 Sources of Data
Method of Data Collection
Presentation and Analysis of Data
CHAPTER FOUR
History of Your Case Study
4.1 Tenement Rating Assessment in the Cast Study Area
The Rating Department
The Administration of Property Rating in the Case Study Area
Problems and Constraints of Property Rating in the Case Study Area
CHAPTER FIVE
Summary of Findings
5.1 Recommendations
Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
The creation of more state in Nigeria in 1976 gave rise to new urban centres, the rapid growth of which increased the need to finance the provision of public utilities.
One of the major sources of finance is real estate taxation. Property tax reform is one of the alternatives proposed as a means for raising increased revenue to meet the financial needs of cities in less developed countries.
Property rating is employed in Nigeria at the local government levels to raise revenues for public purposes. Rates are levied not on the nation as a whole but on a particular locality that is deemed ripe for the imposition of rates and with the consent of parliament.
This consent is not given on every occasion of rate collection. The power is general one, given by statute without restriction and for all times.
The general lack of interest on the part of the property ratepayers and the reluctance of some assessment jurisdictions to disclose information, the property rate administration is often surrounded in mystery.
This centres on the fact that the core of property tax (rate) administration is the value of each taxpayer’s property, so that each taxpayer will bear fairly his proportional part of the overall tax levy.
Property owners have a right to know the approximate, fraction of estimated market value that is being used for tax (rating) assessment purposes.
If the local government have to exist and to viable as the third tier of government they must surely need some local revenue in order stand firmly property rating is the most obvious source of such revenue.
Property rating not only helps in influencing development but is also the major source of local government revenue used in defraying the cost of services rendered by local government includes, inter-alia, parks, burial grounds, registration of marriage, death and birth.
It is important to note that rate is a form of tax, hence the use of property rate and property tax is interchangeable, although there is a slight difference between rate and tax, beside that rate is a form of tax,
while in rating the amount of revenue required by a rating authority is first decided and then distributed among the rate payers according to a pre-fixed standard in other kind of tax the exact amount to be generated at the time of imposition is unknown.
BACKGROUND OF STUDY
From investigation and empirical data on property rating in general and in Enugu state in particular, one observes a gold mine with proper handling waiting to be exploited as can seen in Enugu north it is,
therefore the aim of this paper to examine the administration of property rating in the state, how well informed the rate payers are, their attitudes, improvement in the system, how well the system has been paying off, and of course, a critical appraisal of the system.
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