President William Ruto has announced plans to exempt land transactions valued at KSh1 million or less from stamp duty, in a move aimed at lowering the cost of acquiring property.
In his Mashujaa Day address in Eldoret, the President said the National Treasury had prepared proposals to remove stamp duty on lower-value land transactions while introducing a graduated payment structure for higher-value transactions.
The proposed changes are intended to make land ownership more affordable for ordinary Kenyans and reduce the financial barriers associated with property transfers.
Ruto said the reforms would help ease the cost of buying and transferring land while improving the accessibility of formal property ownership.
The President included the proposal among four measures designed to address everyday economic challenges facing households, alongside PAYE relief for low-income workers, reduced taxation on mobile phone imports and an expanded youth apprenticeship programme.
The proposals are expected to undergo the necessary legislative and financial processes before implementation.
If approved, the stamp duty exemption could provide relief to buyers involved in qualifying low-value land transactions.
