City Hall attaches buildings over rates

Posted  Monday, November 24   2014 at  19:50

IN SUMMARY

· Nairobi is targeting Sh200 million from 150 properties within the central business district over the next month as rate defaults in the city hit Sh12 billion.

City Hall on Monday made good its threat to attach property whose owners have defaulted on land rate repayments by taking over five buildings in the city centre. Nairobi’s inspectorate department descended on City Printing Works, Leo Investment Limited, P&L Investment Limited and Princely House Limited (who own premises along Moi Avenue) and Brighton Investment Limited that sits on Tom Mboya Street.

Nairobi is targeting Sh200 million from 150 properties within the central business district over the next month as rate defaults in the city hit Sh12 billion. The building owners protested that the clampdown happened without court orders as City Hall maintained that the Rating Act empowers it to take properties in defaults. This marks the second takeover of buildings after the defunct City Council of Nairobi attached a number of properties in 2012.

“The campaign will be taken outside the CBD next year starting January 2015,” said Gregory Mwakanongo, county executive for Finance. “We will conduct this exercise until we collect the last penny owed to us. Last year we gave property owners up to 90per cent waivers on their accrued interest where we collected Sh780 million.”

http://www.businessdailyafrica.com/City-Hall-attaches-buildings-over-rates/-/539546/2533784/-/item/1/-/dy37grz/-/index.html

 

 

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