It has come to the stake holders’ attention of Kisumu real estate’s
that these newly imposed tax by the county Government of Kisumu is really the
origin of slow rate of development in Kisumu real estate’s sector. The issue
has notably affected the quantity of properties put up by the local and
non-public investors. Both the local and of course the foreign investors have
made their voices heard whereby they’re terribly discontented on the push of
high property taxation.
This move did not only hinder Kisumu County but each of the
47 counties in Kenya are affected, moreover, the case is perceived as deterrent
to the business constructed in Kisumu real estate sector plus the whole country
in its entirety. The recent research by the 2014 brand Kenya audits survey indicates
dissatisfaction among the list of possible investors regarding the new charges
and taxes regularly imposed by the County Governments.
It’s projected that these increased charges will impact the
counties with growth opportunities, one of the 47 county president stated that
they've only engaged the Counties in these subjects and anticipates that no
more weighty taxes will be levied upon the investors to make the counties
attractive regarding the business which ultimately will develop the image of
the Country completely.
Evans a marketing Executive in a premier real estate in
Kisumu noted that whenever the taxes on properties are high, the demand for
building and developing properties in Kisumu County precinct depreciates
notably.
He explained that just recently private investors desired to
purchase a huge parcel to make a five star hotel in Kisumu, but after learning
that there's a heavy taxation that need to be included, he opted to hold on and
give it a second thought. The County Government needs to review this law and
adjust the rates of the heavy taxation, because at the end of the day investors
will shy off from the venture hence development will absolutely decline from
the county levels.
Read more at: www.westkenyarealestate.com
No comments:
Post a Comment