The Liberia Revenue Authority (LRA), through its Real Estate Tax Division, has said it is expected to collect US$7 million as contribution to the National Budget for fiscal year 2015-2016.
At the Ministry of Information’s regular Tuesday press briefing in Monrovia, Mr. Lasana A. Kromah, Assistant Commissioner for Real Estate Tax Division, said the entity has developed key strategies to aid the Division in meeting the projected amount.
“We have planned a massive Real Estate Tax education and awareness (strategy); and under this strategy, the LRA, through the Real Estate Tax Division, has engaged the public by robust media publicity, radio talk-shows, public service announcements and community engagements,” Commissioner Kromah explained.
The LRA, he disclosed, also seeks to engage seven cities, 21 townships and 150 communities within Montserrado County as a pilot project, which he said will be subsequently spread to other counties including Bong, Grand Bassa, and Nimba, among others.
Commissioner Kromah explained that the Division is currently ensuring compliance in the public sector with respect to the three branches of government, including appointed officials and civil servants, in keeping with the Revenue Code of Liberia.
“(A) similar approach is expected to be rolled out for civil servants that could be achieved through salary deductions,” he maintained.
He said the Division is also robust in the enforcement strategy to recover real estate tax debts, particularly against delinquents, through legal means by placing liens on non-compliant properties through litigation.
“We want to call on all property owners to visit any LRA business office across the country to regularize their status as it relates to real estate tax. Our real estate tax regime is one of the lowest in West Africa…a good tax payer is a nation builder as taxes bring development,” he added.
Real Estate Tax is paid once a year, due between January 1 and June 30 of the year in which it is levied, after which it becomes delinquent.