The Accra Metropolitan Assembly (AMA) has initiated the process to revalue all properties within its jurisdiction as part of efforts to mobilize enough resources for the development of the city of Accra.

Property valuation is an estimation of the worth of a property (land, buildings or other properties).

The exercise, which will be conducted by the Land Valuation Division of the Lands Commission, will, therefore, enable the Assembly revise its property rates and take inventory of all properties in the city.

Chief Executive Officer of the AMA, Mr. Mohammed Adjei Sowah, at a brief ceremony on Monday to sign a Memorandum of Understanding for the commencement of the exercise, disclosed that the last property valuation was done in 2006, adding that over the period, the skyline of Accra had changed from a single storey to a multiple storey, hence substantial revenue for development was being lost.

He made it known that the Assembly was embarking on the re-evaluation exercise with approval from the Ministry of Local Government and Rural Development (MLGRD).

He, therefore, appealed to the general public and all property owners to co-operate with the Assembly to enable it collect the necessary revenue to support its development agenda.

In his remarks, the Head of Rating and Valuation of the Lands Commission, Mr. Ben Arthur, said the Commission was adopting a digital approach towards executing the valuation of the properties in the country.

He explained that a significant difference in the new approach was the use of a digital system unlike previously where a lot of manual activities were involved, adding that the Commission was using a very good digital platform to be able to undertake the exercise more accurately and speedily.

Mr Arthur urged the general public to co-operate and furnish mobilisation officers with the right information need for the exercise.

The Acting Director of the Land Valuation Division of the Land Commission, Kwabena A Gyang, signed the MoU of the behalf of the Division.