ABSTRACT
Property rating has come a long way, right from the British poor relief Act of 1601 which was also known as the Statute of Elizabeth. This project is all about “Rating” of properties which is used to generate revenue or income to the communities in order to develop their areas. This project research will enable us to understand and see the need for reestablishing the term property rating in our various local governments.
TABLE OF CONTENT
Cover page - -i
Title page - -ii
Approval page -iii
Declaration - -iv
Acknowledgement - v
Dedication - -vi
Table of content -vii-ix
Abstract - - -x
CHAPTER ONE
1.0 Introduction -1
1.1 Background of the study area - - -2
1.2 Statement of problem - - - -2
1.3 Significance of the study - - - -3
1.4 Aim and objective3
1.5 Scope of the study3
1.6 Limitation -4
1.7 Delimitation -4
CHAPTER TWO
2.0 Literature review 5
2.1 Introduction -5
2.2 Stage of rating assessment - - -5
2.3 Factors to consider in property rating - -5
2.3.1 Population-5
2.3.2 Extent of organization - - - -6
2.3.3 Source of income 6
2.3.4 Types of social services - - - -6
2.3.5 Cost of collection 6
2.4.0 Qualities of a good rating system - -7
2.4.1 Equitability 7
2.4.2 Simplicity -7
2.4.3 Economic production - - - -7
2.4.4 Convenience 7
2.5.0 Theories of rating 7
2.5.1 Ability to pay theory - - - -7
2.5.2 Benefit theory 8
2.6.0 Principles of rating assessment - - -8
2.6.1 The property of must be valued “Rebus Sic Stantibus” - - -8
2.6.2 Rental considerations - - - -8
2.6.3 The property must be assumed to be vacant and to let - - -8
2.7.0 Methods of rating assessment - - -9
2.7.0.1 The rental method - - - -9
2.7.1.1 Direct rental valuation method - - -9
2.7.1.2 Indirect rental valuation method - -9
2.7.2 Contractor’s method - - - -10
2.7.3 Profit method 10
2.7.4 The formula method - - - -11
2.7.5 The output method 11
CHAPTER THREE
3.0 Research methodology - - - -12
3.1 Design of the study - - - -12
3.2.0 Population of the study - - - -12
3.3.0 Research instrument - - - -13
3.3.1 The Structural interview- - - -13
3.3.2 Questionnaire 13
3.4.0 Sample of the study - - - -14
3.5.0 Sampling techniques - - - -14
3.6.0 Administration of the instruments - -14
3.7.0 Method of data analysis - - - -15
3.8.0 Structural questionnaire - - - -15
3.9.0 Structural interview - - - -15
CHAPTER FOUR
4.0 Data analysis and interpretation - - -16
4.1 Respondents bio-data - - - -16-21
4.2 Interview analysis22
4.3 Findings from the study - - - -23
4.4. Discussion of the findings - - -23
4.5 Illustration-24-25
CHAPTER FIVE
5.0 Summary, conclusion and recommendation -26
5.1 Summary of the study - - - -26
5.2 Conclusion -26-27
5.3 Recommendation 27
Appendix A -28
Research questionnaire - - - -28
Keys to answer the questionnaire - -28
References-29
