New property rates to triple KCCA revenue, says director
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Date
2018-01-12
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Daily monitor
Abstract
Property tax is charged in fulfillment of the periodic statuory requirement of the local government(Rating) Act 2005. The money collected caters for the infrastructural development.
According to the Act, every property owner is required to pay 5 percent of the money they collect from the building after expenses on bills such as water, electricity and wages.
Currently, property rate in rerspect of properties located within the city are computed at a rate of 6 percent of the ratable value of the property and are payable once in a financial year.
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News article