Chief Executive Officer of Accra Metropolitan Assembly (AMA), Mohammed Adjei Sowah, has disclosed that the Assembly would soon begin public engagement to agree on property rates to charge landlords.
According to him the Assembly had completed the property revaluation exercise it began last year and it's now time to dialogue with stakeholders on the rates to mitigate resistance in payment.
The Mayor disclosed this on Thursday at the opening of a one day policy workshop on property rating at the AMA.
He said the skyline of Accra had changed over the last 20 years from one to fifteen stories adding that this phenomenon would obviously have an impact on property rating.
Mayor Sowah pointed out that although the law requires the Assembly to revaluate properties every five years, it took the Assembly eleven years to revaluate properties within its jurisdiction adding that the revaluation of properties and collection rates had been a challenge for all Metropolitan, Municipalities and District Assemblies (MMDAs).
He announced that data on the recent revaluation exercise had been shared with the newly created Municipalities urging them to be fair and reasonable in its implementation.
The AMA boss reiterated that ,property rate constitutes the large chunk of Internally Generated Funds(IGF) for most MMDA within urban areas and that, the increase in revenue largely depends on how an assembly manages its property rates and that the research findings would help the various Assemblies appreciate the nuances in property rating .
Senior Technical Advisor, of the National Development Planning Commission (NDPC), Dr. Wilfred K. Anim- Odame, in an introductory statement pointed out that, the workshop was aimed at motivating and providing a policy direction to support the AMA in mobilising revenue from the real estate market.
He mentioned that, to achieve a Ghana Beyond Aid Agenda, His Excellency the President has challenged Ghanaians to harness effectively our own resources, and deploy them creatively and efficiently for rapid economic and social transformation suggesting that, domestic revenue mobilization was very critical to make the President's vision a reality.
"Indeed, this will require hard work, commitment and creativity," he said.
Dr. Anim- Odame stressed the need for leadership of Ministries, Departments and Agencies (MDAs) as well as Metropolitan, Municipal, District Assemblies (MMDAs) to begin to assess their revenue mobilization capacities with the view to developing strategies for efficiency and effectiveness.
Professor Dennis Philip made a presentation on residential occupancy and property tax arrears.