Project Materials

PROPERTY TAX ASSESSMENT ON RESIDENTIAL PROPERTIES.

Chapter one

INTRODUCTION

1.1 Background of the Study.

Countries have diverse property assessment methods based on their current circumstances (Monkam, 2011). In his study, Babawale (2013) suggested that the tax base, method of valuation, basis of valuation, approach to valuation, and adjustment to the valuation roll are the main components when assessing a property’s worth for tax purposes using the valuation model.

According to Hefferan and Boyd (2010), one of the oldest kinds of government revenue is a property-based taxing system. According to the FAO, this type of taxation has existed for around three millennia.

The literature review was created by collecting and critically examining previous research on the issue. The first component of the literature review was prepared by collecting material on various valuation methodologies used around the world.

This provided a good foundation for conducting the sections of Nigeria by analysing literature on how these systems are built and how values are appraised using these systems.

1.2 Statement Of The Problem

Most governments across the world use a mass appraisal system to assess residential taxes. In Botswana, this is done by individual property assessments, which are