CITY NEWS Tenement rate: Outcries over AMAC valuation list

Property owners and tenants in Abuja Municipal Area Council (AMAC) have expressed concern over the payment of four percent of rated value of properties demanded by the council.

Commercial and residential buildings in the council were valued by private estate surveyors and the provisional valuation list was released by the council last week but people are worried that it can compound housing problem in the council.

The council chairman, Abdullahi Adamu Candido, last Wednesday, urged owners of ratable properties to acquaint themselves with the council’s valuation of their properties.

AMAC said the property owners are expected to pay four percent of total sum of the amount that corresponds to their properties.

“The provisional valuation list currently in display at the council secretariat contains only the ratable values of properties. It should be noted that the tenement rate payable is 4 kobo to 10 kobo (4%) of the ratable value,” a statement from AMAC read.

City News reports that shopping plazas, embassies, schools, hotels and banks are among the highest rated properties in the list pasted outside the council’s secretariat at Area 10, Garki.

The long list covering districts and zones in the council indicates that some banks on Mediterranean Street, Maitama are valued at N15,232,000 and are expected to pay N609,280 as tenement rates.

Also, the tenement rate for a four bedroom residential building with two bedroom boy’s quarters at Maitama valued at N4,950, 000 is N198, 000.

At Duboyi Cadastral Zone, a four bedroom building valued at N2.2 million would pay N88,000 to the area council annually as tenement rate.

Coinoil, Abiola Road, Garki valued at N33,776,960 would pay N1,351,078 annually while Bolingo Hotel is to pay four percent of N367,000,000 which is N14,680,000.

Okocha Motors, Garki rated at N20,303,578 would pay N812, 143.

While at Sun City Estate, Galadimawa, a three bedroom residential building with two bedroom boy’s quarter valued at N2.1 million would pay N84, 000.

The valuation list released by the council is subjected to the approval of the National Assembly.

A property owner, John Patrick said the amount reached by the council is shocking. Though he declined showing City News his property at Maitama, but said it is valued twice the amount.

He said the area council needs to review the values in the face of the economic hardship in the country.

A civil servant at the Ministry of Defense, who gave his name only as Ikgere, said the list if not reviewed would lead to increase in house rent, thereby compounding the already difficult housing sector in the council.

“I am affected because the rent will shoot up,” he said.

“The four percent is still too much, they should be considerate,” said a visibly worried Olaoluwa Adeoye who was seen at the secretariat checking the list for his principal.

An estate manager, Ken Onche, also said the rate was on the high side adding that he planned to file a complaint to the objection committee on some of the properties he manages at Durumi District.

Though he said property owners would only pay a certain percentage of the sum displayed, he could not confirm to City News the actual percentage.