{"id":778872,"date":"2020-01-08T22:21:11","date_gmt":"2020-01-08T22:21:11","guid":{"rendered":"https:\/\/ghana-mma.com\/2020\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/"},"modified":"2020-01-08T22:21:11","modified_gmt":"2020-01-08T22:21:11","slug":"ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/","title":{"rendered":"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO"},"content":{"rendered":"

<\/p>\n

\n

Business News of Wednesday, 8 January 2020<\/p>\n

Source: <\/strong>www.citibusinessnews.com<\/p>\n

2020-01-08<\/p>\n

\n

\"PropertyProperty taxes is collected annually by the Ghana Revenue Authority (GRA)<\/span><\/span><\/p>\n<\/div>\n

The Chief Executive Officer of Millennium Properties Limited, Peter Atsu Tsikata, is calling for reform of Ghana\u2019s property tax laws to help rake in the needed revenue for the state.<\/p>\n

He says the current regime where owners of multi-million dollar properties in the country are made to pay property tax of about GHS 2, 000 annually is inappropriate.<\/p>\n

Speaking to Citi Business News, Mr. Tsikata said there is the need to revalue Ghana\u2019s property rate charges to correspond with modern trends.<\/p>\n

\u201cSomebody living in a million dollar property in Trasacco should not be paying GHS2, 000 as property tax. It is unheard of. Somebody in New Jersey in the USA, who\u2019s living in USD700, 000 home pays USD10, 000 annually as property tax\u201d.<\/p>\n

He argued that even though economic conditions in the two countries are not the same the mechanism for valuing properties are standardized hence can be applied in Ghana.<\/p>\n

Providing some recommendations, Mr. Tsikata called for a system that will empower and equip special officers at the various Metropolitan, Municipal and District Assemblies (MMDAs) across the country to collect the tax effectively for the state<\/p>\n

\u201cThe current market values of properties must be known to the MMDAs. This will allow the assessor to value and produce a correct tax bill for the property owner\u201d.<\/p>\n

He said one of the major ways by which governments all over the world generate revenue to support development particularly at the local level, is through the collection of taxes on landed properties.<\/p>\n

He said this will provide an opportunity for the citizens to demand basic amenities from the government.<\/p>\n

Property tax in Ghana<\/b><\/p>\n

Property taxes, popularly known in Ghana as property rate, paid on immovable property, is collected annually under the auspices of the Ghana Revenue Authority, (GRA)<\/p>\n

In Ghana, property tax is levied annually by local authorities on the estimated value of the property, depending on the classification of the area where the property is located.<\/p>\n

The rates range from 0.5 percent to 3 percent.<\/p>\n

There are also different types of property tax, namely: property rates, ground rates and the actual property tax.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Business News of Wednesday, 8 January 2020 Source: www.citibusinessnews.com 2020-01-08 Property taxes is collected annually by the Ghana Revenue Authority (GRA) The Chief Executive Officer of Millennium Properties Limited, Peter Atsu Tsikata, is calling for reform of Ghana\u2019s property tax laws to help rake in the needed revenue for the state. He says the current […]<\/p>\n","protected":false},"author":1,"featured_media":778873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-778872","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nGhana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Wednesday, 8 January 2020 Source: www.citibusinessnews.com 2020-01-08 Property taxes is collected annually by the Ghana Revenue Authority (GRA) The Chief Executive Officer of Millennium Properties Limited, Peter Atsu Tsikata, is calling for reform of Ghana\u2019s property tax laws to help rake in the needed revenue for the state. He says the current […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO\",\"datePublished\":\"2020-01-08T22:21:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/\"},\"wordCount\":383,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/79753232.jpg\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/\",\"name\":\"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/79753232.jpg\",\"datePublished\":\"2020-01-08T22:21:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/01\\\/08\\\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/79753232.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/79753232.jpg\",\"width\":600,\"height\":374},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/","twitter_card":"summary_large_image","twitter_title":"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com","twitter_description":"Business News of Wednesday, 8 January 2020 Source: www.citibusinessnews.com 2020-01-08 Property taxes is collected annually by the Ghana Revenue Authority (GRA) The Chief Executive Officer of Millennium Properties Limited, Peter Atsu Tsikata, is calling for reform of Ghana\u2019s property tax laws to help rake in the needed revenue for the state. He says the current […]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO","datePublished":"2020-01-08T22:21:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/"},"wordCount":383,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/","url":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/","name":"Ghana\u2019s property tax must be reviewed to generate more revenue \u2013 Millennium Properties CEO - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg","datePublished":"2020-01-08T22:21:11+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2019\/01\/08\/ghanas-property-tax-must-be-reviewed-to-generate-more-revenue-millennium-properties-ceo\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2020\/01\/79753232.jpg","width":600,"height":374},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2019\/#website","url":"https:\/\/www.ghanamma.com\/2019\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2019\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"}}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/778872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/comments?post=778872"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/778872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media\/778873"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media?parent=778872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/categories?post=778872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/tags?post=778872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}