Valuation: With regard to land and Valuation is covered by the Land Act 2012 Though one could argue that there is Apply the World Bank OP4.12 structures, is and stipulates, as already mentioned, that the some form of consistency between valuation measures, as outlined “replacement cost” defined as follows: affected person receive just compensation the Kenyan Law and World Bank in Section 6, in order to fully from NLC, as determined by National Land OP.4.12, interpretation of value all affected assets in a ‘just Commission. Valuers Act stipulates that a has not been defined. consistent manner. compensation’ residual amount of 0.5% of the total valuation of an asset is expected to pay the valuer. For agricultural land, it is the Interpretation of just compensation Apply World Bank OP4.12 on or pre-displacement, not clear valuation and compensation Land Act 2012 talks of just compensation whichever is higher, market value of measures. for the lost assets but it is not specific of the land of equal productive potential or exact amount or procedures on the same. use located in the vicinity of the affected land, plus the cost of preparing the land to levels similar to those of the affected land, plus the cost of any registration and transfer taxes. The Land Act 2012 stipulates just For houses and other structures, it is Apply World Bank OP4.12 on compensation. the market cost of the materials to Interpretation of just compensation valuation and compensation build a replacement structure with an not clear. procedures. area and quality similar to or better than those of the affected structure, or to repair a partially affected structure, plus the cost of transporting building materials to the construction site, plus the cost of any labor and contractors’ fees, plus the cost of any registration and transfer taxes.
Valuation: With regard to land and structures, “replacement cost” is defined as follows: For agricultural land, it is the or pre-displacement, whichever is higher, market value of land of equal productive potential or use located in the vicinity of the affected land, plus the cost of preparing the land to levels similar to those of the affected land, plus the cost of any registration and transfer taxes. For houses and other structures, it is the market cost of the materials to build a replacement structure with an area and quality similar to or better than those of the affected structure, or to repair a partially affected structure, plus the cost of transporting building materials to the construction site, plus the cost of any labor and contractors’ fees, plus the cost of any registration and transfer taxes. Valuation is covered by the Land Act 2012 and stipulates, as already mentioned, that the affected person receive just compensation from NLC, as determined by National Land Commission. Valuers Act stipulates that a residual amount of 0.5% of the total valuation of an asset is expected to pay the valuer. Land Act 2012 talks of just compensation for the lost assets but it is not specific of the exact amount or procedures on the same. The Land Act 2012 stipulates just compensation. Though one could argue that there is some form of consistency between the Kenyan Law and World Bank OP.4.12, interpretation of ‘just compensation’ has not been defined. Interpretation of just compensation not clear Interpretation of just compensation not clear. Apply the World Bank OP4.12 valuation measures, as outlined in Section 6, in order to fully value all affected assets in a consistent manner. Apply World Bank OP4.12 on valuation and compensation measures. Apply World Bank OP4.12 on valuation and compensation procedures.
Final_Kisumu_OBA_RAP_Jan_2018.docx