Good News for Kenyans as Ruto Announces Stamp Duty Exemption on Land Worth Ksh1 Million

President William Ruto has announced plans to remove stamp duty on land transactions worth Ksh1 million or less. The proposal is aimed at making it cheaper for Kenyans to buy land and transfer property ownership.

Ruto made the announcement on Tuesday, October 20, 2026, during the Mashujaa Day celebrations held at Kipchoge Keino Stadium in Eldoret, Uasin Gishu County. He said the National Treasury had prepared proposals to reduce the cost of owning property in the country.

The President explained that the proposed changes would help people, especially those with low incomes, who find it difficult to raise money to buy land.

Stamp duty is a tax paid when property ownership is transferred from one person to another. Under the current system, buyers generally pay 4 per cent of the property’s value in urban areas and 2 per cent in rural areas.

If the proposal is approved, a person buying land worth Ksh1 million could save up to Ksh40,000 in stamp duty in urban areas. In rural areas, the saving could reach Ksh20,000.

The proposed exemption is expected to make it easier for more Kenyans to buy small plots of land without facing high additional costs.

Ruto also announced plans to introduce different stamp duty rates for properties worth more than Ksh1 million. This means that higher-value land transactions would be taxed under a new system based on the value of the property.

However, the proposal is not yet in effect. The President directed the National Treasury to present the proposed changes to Parliament for consideration.

The announcement was part of a wider plan to reduce the financial burden on Kenyans. Other proposals include removing income tax for workers earning Ksh32,333 or less per month, reducing import duty on mobile phones and creating more internship opportunities for young people.

If approved and implemented, the proposed stamp duty exemption could offer relief to Kenyans hoping to own land and reduce the cost of transferring property.

For now, buyers should continue to follow the current stamp duty rules until the government officially announces that the changes have taken effect.Source https://www.facebook.com/share/p/1FGo48coRK/

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