LUSAKA City Council (LCC) has approved a K72,793,527 supplementary budget.
The local authority has also approved a reduction in residential and commercial land rates.
Lusaka mayor George Nyendwa said in an interview shortly after a full council meeting yesterday that the municipality has approved a revised valuation roll and resolved to sell pieces of land that have remained dormant for many years.
“We made this decision as a council last year and we are going to make sure that it is implemented. I would like to emphasise that no play parks are going to be sold by the council and if there are reports of parks sold, the council will definitely repossess them, we need children in our communities to have places from which they can play games and interact when they are not in school,” he said.
Mr Nyendwa said sale of council property is transparent and urged residents to take advantage of the sale.
“We are doing this exercise in a transparent manner and we want everyone to participate as long as they have money to buy the property. Apart from earning the local institution additional revenue to be used in service delivery, the other main purpose of the sale of property is to pay off terminal benefits to 137 retirees,” he said.
And LCC chairman for finance, human resource and general purposes Chrispin Kabole said the council has approved a reduction in ground rates and an increase in the value of properties.
Mr Kabole said LCC will benefit more through revenue generation because people will be required to pay rates depending on the value of the property.
“People will pay more not because of the rate but based on properties value. I would urge the general public to make use of their properties because the value of property is very important as it may be used as an investment to earn more money,” he said.
Mr Kabole said LCC reduced residential land rates from 0.2 percent to 0.125 percent and commercial or institutional land rates have been reduced from 0.4 percent to 0.2 percent.