It has come to the stake holders’ attention of Kisumu real estate’s
that this newly imposed tax from the county Government of Kisumu is absolutely
the very source of slow rate of development in Kisumu real estate’s sector.
This condition has notably affected the quantity of properties put up by the
local as well as personal investors. Both the local and the foreign investors
have made their voices heard whereby they’re terribly discontented in the push
of high property taxation.
This move hasn't only hinder Kisumu County but all of the 47
counties in Kenya are affected, moreover, the situation is perceived as
deterrent to the business developed in Kisumu real estate sector plus the whole
country collectively. The latest 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 the increased charges will certainly
impact the counties with growth opportunities, one of the many 47 county boss
said that they've only engaged the Counties in these subjects and anticipates
that there aren't going to be any weighty taxes will be levied upon the
investors to get the counties attractive for 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 when 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
buy huge parcel to make a five star hotel in Kisumu, but after learning that
there's a heavy taxation to be included, he opted to hold on and give it a
second thought. The County Government requires reviewing this law and adjusting
the rates of the heavy taxation, because at the end of the day investors will
shy disconnected from the venture hence development will absolutely decline
from the county levels.
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