Land Value
Credit: landcentury

Nairobi Metropolitan Services (NMS) is set to unveil a new property valuation system that will reset land rates in Nairobi County to prevailing market conditions.

According to the County Annual Development Plan 2020/2021, the new system which is based on geographical information systems (GIS) will be phased in between the current financial year and the next financial year at a cost of Ksh. 160 million.

The new supplementary valuation roll is expected to have an additional 5,000 properties. As per 2019, the county’s tally of properties in its valuation roll stood at 156,000, and increase of 24,780 since 2013.

The County Department of Valuations and Property Management completed development of the county’s GIS-based mass valuation roll in 2019/2020 financial year.

“The department aims at implementing the new roll, and improving the utility value of City Hall Annex by repairing the plumbing works, electrical and tarmacking the two basement floors parking areas,” reads the plan.

City Hall has been relying on the 1980 valuation roll whose update has been long overdue.

According to the Commission on Revenue Allocation. City Hall loses about Sh188 billion in uncollected land rates every financial year.

Nairobi County has five key revenue streams which include parking fees, land rates, single business permits, billboards and advertisements, and building permits.

In 2017, data from the County’s budget office included in the integrated development plan revealed that land rates were the single largest source of revenue for the County, generating over Ksh. 10 billion.

Read; Nairobi Land Allottees To Get Title/Lease Documents

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