Land Use Regulation
Landowners possess a great many rights to his/her land. However, it is essential to note that these rights are not absolute in any way. Some of the reasons are:
Restrictions/controls can be put on the land:
- Zoning ordinances
- Deed restrictions
- Covenants
- Variances
COMMON DEED RESTRICTIONS
- For residential use only
- No parking of boats or RVs in the driveway
- Specifics of architectural design
- Cannot be used as an accessory Apartment
- Outside color of the property
- Property size
- Number of units allowed
DEED RESTRICTION ENFORCEMENT
Restrictive covenants may be enforced by owners taking action in a court of law. Fully enforcing deed restrictions may be so challenging because they are only enforceable by the previous owner or a third party to the original transaction. Also, when restrictive covenants are not enforced promptly, the courts may not be able to restrict the violators and the covenant would become void. If a restrictive covenant becomes void as a result of inaction, it is referred to as the Doctrine of Laches. The doctrine of Laches states that the individual invoking laches is asserting that another individual has “slept on its rights.” He has not exercised his legal rights in a timely fashion and may be denied his claim. In other words, this is the case where if you snooze, you lose!
SUBDIVISIONS
These allow property owners to maintain the value and stability of their homes in the subdivision.
These would include:
- Sewage waste disposal
- Water systems / Irrigation / Drainage
- Roads and streets
- Other public interests
TAXATION AND LAND USE
Property tax on real estate is typically imposed by the local government at the municipal or county level. Real estate property taxes are considered local. The proceeds generated from these taxes are used to support and finance public entities such as schools, parks, roads, the local government, and many other public establishments. All landowners bear the burden of ad valorem taxation (fair market property value) because a land value must be assessed on an annual basis. Ad valorem refers to the Latin phrase meaning ‘according to value.’
Personal property tax is another form of tax. These are the taxes assessed for items that belong to an individual and are not attached to the land. The tax rate varies from state to state. You will probably be more familiar with this type of tax when we use the more common term, sales tax.
Metropolitan real estate PLC, is an American-owned Real estate building, building quality homes in Ethiopia to fulfill the needs of luxury real estate for sale in Addis Ababa and all of Ethiopia.
Let us connect today, on Metropolitan Real estate, which has multiple ongoing projects such as Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments located at Total Soset kuter Mazoriya. If you are ready to begin your journey on the way to becoming a homeowner, please contact us with the Ethiopian office: +251973404040 and USA office: +1 480 280 2242.