It was implemented by former Governor Akinwunmi Ambode.
Commissioner for Finance, Rabiu Olowo, made the announcement on Wednesday.
He said the government reverted to pre-2018 land use charges.
The land use charges for 2017, 2018, and 2019 have also been waived.
In reaction to criticisms, the Ambode administration reduced the charges.
Last December, the Lagos State House of Assembly amended the law.
This was after the Ad Hoc Committee, chaired by Rotimi Olowo, presented its report.
Olowo said stakeholders at a public hearing agreed that the increase was arbitrary and urged Lagos to revert to the status quo of the 2017 LUC.
They demanded that vacant plot of land and unoccupied properties be exempted from the LUC liabilities.
The report said in Section 1(2), “Pensioner” should be redefined to include all retirees resident in Lagos from federal, state institutions, and from both private, corporate organizations in the state.
It said increment referred to in sub-section (1) should be renewable every 10 years and that the property owner is liable to pay the LUC of any taxable property.
The report posited that for Section 17(c) (i), there was no need for 50 percent payment by an aggrieved owners over disputed charges before their eligibility to appeal.
It approved that aggrieved residents/owners pay the preceding year’s charges while the disputed charges are being resolved.
The report recommended proper classification of commercial and residential properties Lagos for the purpose of levying charges.
It further recommended 20 percent increase from the fees chargeable before the repeal of the LUC Law Ch. L79 2015.
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