SLA raises land betterment charge rates
Rates will increase for lands used for commercial, residential, and industrial.
Effective 23 September, the land betterment charge (LBC) rates will be raised for lands used for commercial (Group A), landed residential (Group B1), non-landed residential (Group B2), and industrial (Group D) purposes.
The new charges will take effect until 28 February 2023.
For land under Use Group A, LBC rates will increase by 5.4% on average. Only 2 of the 118 sectors will see no change in their rates. The smallest increase will be 2% and the largest will be 8%.
For Use Group B1, the increase will range from 9% to 14% or an average of 10.2%. Out of the 118 sectors under the group, 116 will see an increase in LBC rates.
Under Use Group B2, 116 sectors will also see an increase of 6% to 20% or an average of 12.9%.
Meanwhile, LBC rates for land used for industrial purposes will increase by around 2% to 5% or an average of 2.3%.out of the 118 sectors under Use Group D, only 94 will be affected by the increase.
READ MORE: SLA to roll out changes in remnant land charging framework
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