Accra, Mr Emmanuel Martey, Immediate Past President of the Ghana Institution of Surveyors, has called for an effective property rate administration system to ensure national development.
He said property rate if properly and professionally handled, would provide a huge chunk of funding needed for the development of the Metropolitan, Municipal and District Assemblies.
Mr Martey made the call at the launch of a book on property rate administration in Accra on Wednesday.
The 272-page book ‘Rating Valuation Practice in Ghana, Second Edition’ was authored by Mr Emmanuel A. Larweh, a Fellow of the Ghana Institution of Surveyors.
The book addresses the central issues on rating valuation practice and articulates the fundamental concepts, concerns and issues in a simple language to drive home the relevant points.
It also focuses on the valuation aspect of rating and delves extensively on the broader subject of property rate administration.
Mr Martey said efficient property rate is hinged on accuracy of the valuation and that if the assessment was not properly and professionally done the process would be flawed and also lend itself to many challenges.
He said rating valuation was plagued with a number of challenges and this was because the subject was technical and needed to be handled through appropriate legal frame work as well as giving due consideration to the theoretical and practical underpinning factors.
Mr Martey expressed regret that many of the books on rating were designed to meet requirements of foreign jurisdictions because the authors mainly foreigners focused on their own system and guiding principles.
Mr Larweh said the book targets Property Managers of companies and institutions who are managing large property portfolio to gain adequate and sound knowledge of property rating by the Assemblies.
He said it would also provide to the general readership in-depth information as reference research textbook on rating valuation in the country adding that ‘it would afford its numerous readers the knowledge and understanding of the historical, legal background and practical approach to Rating Valuation in Ghana”.
Source: Ghana News Agency