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The Assembly said they are in broader consultation with some stakeholders before they announce the rates.
Speaking at a workshop organised by the police in Accra, the Chief Executive Officer of the AMA, Nii Adjei Sowah said the new rates are likely to up to 300%.
âWe have not implemented the new ones yet and even without that the rates are going,â he said.
In his address at the event, Mr Adjei-Sowah noted that the skyline of Accra is seeing a lot more high-rise building, some as high as 20 storeys or more, hence the need for an efficient property tax system to shore up revenue.
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AMA boss Mohammed Adjei Sowah
Using the Octagon â a multipurpose storey building adjacent the AMA office in Accra â to give an illustration about how much the new charged are expected to be, the mayor said the rate for that sprawling edifice is currently being computed based on property rates of 10 years ago, âbut after the re-valuation exercise, it is likely to go up by 300 per centâ.
He said property rates are the main source of the assemblyâs internally-generated fund but added that any rates implemented will be fair for property owners.