The Lagos State Ministry of Finance has announced a 15 per cent discount on all Land Use Charge bills paid within 30 days after receipt of the land bill.
Commissioner for Finance, Dr Rabiu Olowo in a statement explained that the discount for early payment of the LUC bill within the stipulated period in the demand notice is not inclusive of payment of accumulated fines arising from late payment by property owners.
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He said this is to encourage early payment of the LUC by property owners in the state as stipulated in the law.
He however noted that payment of LUC bills made after 30 days and 45 days of receipt of the bill attracts no discount.
He also said payment between 45 and 75 days after receipt of the bill will attract a 10 per cent surcharge in the fees payable.
Payments made between 75 and 105 days after receipt of the LUC bill will attract a 20% increase in the charge while payments made between 105 days and 135 days after attracting a 50% increase in the charge and the cost of enforcement.
He however warned that LUC payments not made after 135 days, implies that such property will be liable to receivership by the state or its appointed agent until all outstanding taxes, penalties and administrative charges are paid.
