The Real Property in Billboards as a Taxable Property
Keywords:
Billboards, Real Property, Tenement, Taxable Property, Rating AuthorityAbstract
Purpose: Billboards have been neglected by the Local Government as a taxable property in-spite of the broader definition of land which includes anything permanently affixed to the ground. This study sought to examine the attitude of tax authorities towards billboards using Ada-George Road in Port Harcourt metropolis as the study area. Methodology: The study adopted a descriptive survey design where which respondents (billboards stakeholders - owners of lands/buildings bearing billboards, staff of the Rivers State Signage and Advertisement Agency, Rivers State Ministry of Urban Development and Obio/Akpor Local Government Council) sample was obtained based on a census sampling technique. Findings: The findings of the analysis revealed that billboards possess the unique characteristics of tenement building which can be valued and assessed as ratable hereditaments. Implications: The authors are of the stance that billboards are real property due to its inherent characteristics of being permanently attached to land and as it can be assessed for local taxation, thus proving the Rivers State Government wrong in imposing arbitrary fees on billboards, therefore recommends that rather than imposing arbitrary fees on billboards, they should be properly valued for taxation and associated revenues collected by the rating authorities. Originality: This study adds to the body of knowledge as no other study of its kind has being carried in Nigeria, hence can be used to guide policy formation in Nigeria on billboard taxation.
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