Business Daily | by Collins Omulo
Land owners in Nairobi will soon start paying higher rates after City Hall tabled a proposal that fixes the charge to current asset valuation.
City Hall said new rates will be based on between 0.1 and 0.115 percent of the current value of undeveloped land, setting stage for costly levies.
Currently, property owners pay land rates at 25 percent of the unimproved site value based on the 1980 valuation roll, which City Hall reckons has seen it lose on the appreciation of plots…
