This was announced by the Lagos Commissioner for Finance, Dr. Rabiu Olowo, at a press briefing on Wednesday.
Olowo said the present government of Jide Sanwo-Olu has reverted to the pre-2018 land use charges.
He said the land use charges for 2017, 2018, and 2019 have also been waived.
After the Ad Hoc Committee, chaired by Rotimi Olowo, presented its report, the Lagos State House of Assembly amended the law last December.
Olowo said stakeholders at a public hearing agreed that the increase was arbitrary and urged Lagos to revert to the status quo of the 2017 LUC.
They demanded that vacant plot of land and unoccupied properties be exempted from the LUC liabilities.
The report said in Section 1(2), “Pensioner” should be redefined to include all retirees resident in Lagos from federal, state institutions, and from both private, corporate organizations in the state.
It said increment referred to in sub-section (1) should be renewable every 10 years and that the property owner is liable to pay the LUC of any taxable property.