What are Rates?
Rates are the amounts charges by local authorities on the owners of property within their area for the purpose of providing education, sanitation, police services, etc.
Each house or other type of property in the area us assessed (i.e, the value is determined) at a certain amount, which is known as the rateable value. The rates are levied (i.e charged) at a certain sum in the N of the rateable value.
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Somtochukwu
Visionary Leader and Development Economist in Nigeria. CEO at Bufiredd Economic Consults Ltd
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