Today in History: Government to intensify collection of property rates – Majority Leader hints

Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has announced government's decision to intensify the collection of property rates in the country.

He explained that the move will widen the country's tax revenue.

Osei Kyei-Mensah-Bonsu said “According to the population and Housing census, there are about 8.5 million houses in the country...In most of our regional capitals like Kumasi and Accra, looking at buildings that belong to individuals, some are worth more than a million dollar some of them more than two million dollars when you do valuation."

"With regards to commercial houses like hotels and others, you can get some valued at more than 50million dollars some close to 100 million dollars. How much do they pay on property rate?” he argued.

Read the full story originally published on January 9, 2023 by Mynewsgh.

The government of Ghana will in the year 2023 intensify the collection of property rates as a way of expanding its tax revenue for development, Majority Leader in Parliament has hinted

According to Hon Osei Kyei-Mensah-Bonsu who is also the Minister for Parliamentary Affairs, the move by government is to increase revenue that will help mostly the local authorities as well.

In his view, there are a lot of individuals and institutions in the country that own big houses but tend to either pay less of what they are supposed to or pay nothing to government.

Speaking on Kumasi-based Akoma FM, Hon Osei Kyei-Mensah-Bonsu backed his argument with statistics from the National Statistical Service.

“According to the population and Housing census, there are about 8.5 million houses in the country”, he quoted.

“In most of our regional capitals like Kumasi and Accra, looking at buildings that belong to individuals, some are worth more than a million dollar some of them more than two million dollars when you do valuation.

"With regards to commercial houses like hotels and others, you can get some valued at more than 50million dollars some close to 100 million dollars. How much do they pay on property rate?” he argued.

According to him, the move by government will go a long way to help the country because that is one of the main revenue sources for most governments in developed countries.

“When you go to developed countries, the local councils develop their area with money generated from property rates,” he revealed.