Browsing by Author "Shittu, Wasiu Oyewale"
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Item Advancing Property Investment Returns through Improved Urban Neighbourhood Infrastructure Conditions in Jos City(Faculties of Engineering and Environmental Sciences, Osun State University, Osogbo, Osun State, Nigeria, 2021-11-23) Adeogun, Adekunle Sunday; Shittu, Wasiu Oyewale; Agava, Halim Yusuf; Oladimeji, Samuel BolajiInfrastructure is one of the substantial indicators of neighbourhood and urban quality; it possesses the capability to draw and sustain returns on property investment. This study focuses on the urban neighbourhood infrastructure conditions as a pointer to ideal residential property investment returns in Jos city, Nigeria. The study adopted a survey research design using structured questionnaires to gather the required data. The data required are property transaction data on rental value and capital value of residential properties and the conditions of basic infrastructure in the selected neighbourhoods of Jos city. These data were sourced from practicing Estate Surveyors and Valuers practicing in Jos as well as the residents of the selected neighbourhoods. The estimated sampled size was 251 and only 161 questionnaires were recovered. The data collected were analysed using descriptive and inferential statistics. They are mean score, standard deviation, coefficients of variation and Spearman’s Rank Order Correlation model. The results of the analysis revealed that residential property investment performed better in Gwang layout and Lowcosts than Rayfield and Kufong areas on the basis of risk-return. The risk-return ratios range between 8% and 38%. Rayfield and Kufong residential market showed high level market volatility indicating the risky nature of these property submarkets. Infrastructure condition indices in Rayfield and Kufong is higher than ideal condition index (Benchmark), ranging between 72%-89% and 81%-94%. Few urban neighbourhood infrastructure conditions in Gwang Layout and Lowcosts are found to be below the benchmark. The study concluded that infrastructure has a strong influence on residential property investment returns in the study areas. It therefore, recommended that infrastructure condition should be given special attention when forming opinion on residential property investment.Item Examining the Dynamic Trends in Variations of Property Tax Liability and Value of Rateable Hereditaments in Selected States in Nigeria(School of Environmental Sciences, Modibbo Adama University of Technology, Yola, Nigeria, 2020-06) Adeogun, Adekunle Sunday; Shittu, Wasiu Oyewale; Durosinmi, Wasiu AyobamiThe burden of tax is the property tax liability and is assessed on the value of hereditaments within a rating authority prerogative. However, inefficient operations and processes of property tax administration system in Nigeria has brought about the shortfall in property tax generated over total tax liability on rateable hereditaments. This study focuses on examining the trends in variation of property tax liability and value of rateable hereditaments in three selected states in Nigeria (Lagos, Kaduna and Kano States). Multiple case designs, structured questionnaire survey, as well as documentary source were used to collect data from the three selected states. The study employed descriptive, inferential and content analysis techniques to analyse the quantitative data obtained. The results of trends analysis in property tax liability value over the period (2000 – 2017) revealed that, Lagos had highest collection rate followed by Kano and Kaduna at 69%, 31% and 28% respectively and the result of trend importance index revealed that income level from hereditaments, level of education of payers and availability of community services were identified as the most predominant determining factors at 93%, 93% and 92%. Further result of simple regression modeling revealed that 75%, 71% and 73% variations in property tax liabilities are significantly influenced by economic,, institutional, social, individual and socio-economic factor in Lagos. The study therefore concludes that, value of hereditaments level of education of tax payers, availability of community services, simple and transparent property tax system are the most effective factors that activate positive and responsive attitudes towards property tax compliance. The study therefore recommends complete overhauling in institutional framework in Nigeria’s property tax system in order to address factors that can positively influence total compliance to property tax liability.