Owners of properties that are rented for permanent housing, in the municipality of Lagos, have until November 29th to request a reduction in Municipal Property Tax (IMI) from the City Council.
This measure is part of a fiscal package proposed by the Lagos Chamber, to come into force in 2024, which was approved in an extraordinary session of the Municipal Assembly.
Among the planned measures is the reduction, by 20%, of the IMI rate to be applied to urban properties rented for permanent housing.
Owners “who have properties occupied with a rental contract for permanent housing registered with the Finance Department” can access this tax benefit.
The application is available in the municipality's Online Services, which can be submitted directly by users registered/authenticated on this platform or presented in person at the municipality's Citizen and Business Office.
«This measure is intended to be an incentive to stimulate the housing rental market, with the municipality applying a 20% reduction in the rate, that is, the maximum reduction legally provided for in the Municipal Property Tax Code», according to the Lagos Chamber .
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