Land (Assessment of the Value of Land for Compensation) Regulations (L.N. No. 78 of 2001)

Citat111n Basis Markel Value Land (Assessment of the Value of [and/or Comptmsalion) GoVERNMhNT NOTICE NO. 78 published oo 4/5/2001 THE LAND ACT (No.4m 1999) TUE LAND (ASSESSMENT OF THE VALUE OF LAND FOR COMPENSATION) REGULATIONS, lqO\ (Madeundersection 179) t. These Regulalivm shall be cited as the Land (Assessment of the Value of t,:md for Conwenr.ati.on) Regulations, 2001. 2. In these Reg11htions, unle.~s the context {eQ.Uites otherwise "Act" means the Land Act, !999; "Oo'>'cmmont" mc110~ the Government of the United Rep.uh.tic ofTanz;mia; "qualified valuer" has tlte meaning ascribed to it by section 2 of the Act; "local government Authority" has the meaning ascribed to it by section 2- oftbe Act. 3. The basis for ussessnlent of the value of any land and unexhuusted improvement fol' purposes of compensation, under the Act shall be thi~ market value of sucl1 land. 4. l'he market value of any land and unexhausted improvement shall be: arrived at by wm of comparativ~ method evidenced by actual recent, :;!Iles of similar prnperties or by use of inoorr,,e approa\\h or- teplacernent cost method where the µrnpert'f is of special nature and not saleable. 652 Land (Assessmem of the Value of Land for Compensation) S. Every aBsessmeut of tbe value of land .md mi.~bausted improvemetit for tho purpoacs Qf tho Ad WU be repmet) 'oy qualified valuer. o. every tu1sessmcm or me value 01 Jana ano unexhausted improvement for the purposes of payment of compensation by Govemmettt or Local Government Authority shall be verified by the C'Juef Valuer of the Government or his representative. 1. Compensation for loss of any inteiest in land shall include 'll!.tu'! of ooexhausted improvement disturbance allowance, transport allowance, accommodation allowance and loss of profits, .S. The JTiark~t n>,nf fnr the building shall he assessed and multiplied by thirty six months in order to arri'\'e at the accommodation allowance payablti. 9. The (le.I; m<:inth.ly µ10£.t of the business carried out on the land shall be a.ssessed1 evidenced by audited ccounts where necessary and applicable, and mulbpl1ed by thirty six months in order to arrive at the loss of profits payable, 1 O. The disturbance allowance shall be calculated hv ml,l.\tip\yi.ng va)ue of the land by average percentage iate of t..e1es.t off~ted by commercial banks on fixed deposits for twelve months at \he 1ime of loss of interest in lund, 653 GR N1;. 78 (contd) Qua\Hied Villllltrn l,hlCf valuer Cm1rpcnianon Acoonmmda--t\<.m 11\l<:!wan<:e LP$~ of profit Oistmlm1cc allm,,.~nec Land (Assessment of the Value of land for Compensation) G,N, Nfi, 78 (~onfd) , Trl!llsport JJ.llowam:e Unoccupied Interelilt I I. Ttatw,y,mt Allowance- shall be the actua\ ~OS'is of transpottlng twelve tons ot' luggage by raH or road (whichever is <'..he2ir,e1) within twenty kilometers from 'ihe point of displacement 12. The elements of transport allowance, accommoda-tion allowance and loss of profits shall not b~ pa) able for unoccupied lnnd at the da«: of \oss of interes1 in !:llld, 13.· (l) The intcr(lsl upon any compensation shttJJ be paid by thoe. G.wi::rnment or th.e local goverrune(l.t authvri1y vuly wlt,:;1,;. tht;J'G ia no prompt payment c>f ~mnpensatiot\ made, (2) For the purpose of computing intere5'. payabk upott compensation "prompt paymem of compcmmtiuu" m110.ns payment of compensation within six moutb.s at½ the subject land has been acquired or revoked, (3) When~ ammint of compensation rem.aim: unpaid for six months after acquisition or revocation, in.1erest at the 1\'111:-tag~ petcen.tage rate of interest offered by commercial banks on tixed deposits sha\1 be­ t<:cuvi:rable until such compensation is paid. Dar es Salaam, 3n:1 May, ?.001 654 G. Cm::Yo, Minister for Landi' and Human Setttement Devetoprm:ru