The amount of property tax you need to pay depends on:
Property Tax is calculated based on a percentage (Tax rate) of the Annual Value (AV) of your property. The current tax rate is 10% per year. If you are granted owner-occupier concession, the tax rate is 4% per year.
Property Tax Computation in 2010
Example 1 (Non Owner-Occupied)
Property Tax Payable on Non Owner-Occupied Residential Property
• AV of your house is $24,000
• Property Tax payable is: 10% x $24,000 = $2,400 per year
Example 2 (Owner-Occupied)
Property Tax Payable on Residential Property granted owner-occupier concession
• AV of your house is $24,000
• Property Tax payable is: 4% x $24,000 = $960 per year
Example 3 (Owner-Occupied)
Property Tax Payable on Residential Property granted owner-occupier concession and GST Rebate
• AV of your house is $9,600
• Property Tax is: 4% x $9,600 = $384
• Less: GST Rebate = $ 25
• Property Tax Payable = $359 per year
Example 4 (Owner-Occupied HDB Flat)
Property Tax Payable on HDB Flat granted owner-occupier concession and both GST Rebate and 2010 Owner-Occupied HDB Rebate
• AV of your HDB flat is $6,900
• Property Tax is: 4% x $6,900 = $276
• Less: GST Rebate = $100
• Balance = $176
• Less: Owner-Occupied HDB Rebate = $ 88
• Property Tax Payable = $ 88 per year
New! Budget 2010 Changes
As announced in Budget 2010 on 22 February 2010, a new progressive property tax regime with three tiers of tax rates for residential properties granted owner-occupier concession will be introduced with effect from 1 Jan 2011. This three-tier tax rate will replace the flat 4% tax rate as follows:
| Annual Value |
Tax Rate |
| First $6,000 |
0% |
| Next $59,000 |
4% |
| Above $65,000 |
6% |
With effect from 1 Jan 2011,
Example 1 (Owner-Occupied)
• AV of your house is $6,000
• Property Tax payable is: $6,000 X 0% = $ 0 per year
Example 2 (Owner-Occupied)
• AV of your house is $24,000
• Property Tax payable is: First $ 6,000 X 0% = $ 0
Next $18,000 X 4% = $720
$720 per year
Example 3 (Owner-Occupied)
• AV of your house is $80,000
• Property Tax payable is: First $ 6,000 X 0% = $ 0
Next $59,000 X 4% = $2,360
Remaining $15,000 X 6% = $ 900
$3,260 per year
FAQs
You can obtain a copy of the notice/bill via myTax Portal using your SingPass at no cost.
If the sale was completed before 31 Dec 2009, you may ignore the bill for 2010. If the sale is completed after 1 Jan 2010, please pay the 2010 tax as property tax is payable yearly in advance in January each year. Your lawyer or HDB resale officer will apportion the tax paid between the seller and the buyer during the completion of the sale. You may wish to liaise with your lawyer or HDB officer on this matter.
IRAS bills and collects TV Licence fee for owner-occupied residential properties on behalf of the Media Development Authority (MDA). If your property is tenanted or non owner-occupied, your TV Licence fee will not be billed by IRAS as the payment of TV Licence fees is a private arrangement between the property owner and tenant. Hence, for tenanted or non owner-occupied properties, MDA will send the TV Licence payment advice separately to the licensee.
You may wish to join the GIRO payment plan for interest-free instalment payments. To do so, please complete and submit a GIRO Application form (69KB).
No, once you have signed up for GIRO, you need not apply for it every year.
To terminate the GIRO payment plan, please write to IRAS. You may also wish to inform your bank to withdraw the GIRO Standing Order.
You are required to complete and submit a new GIRO Application form (69KB). Once your application is approved, we will deduct your propery tax payment from your new GIRO account.
Your GIRO arrangement for property tax and TV Licence fee will be terminated when you or your representative files a notice of transfer for your property. Except for November and December, processing of transfers are completed within a month.
If your TV Licence fee is currently billed by IRAS (i.e. the TV Licence fee payable is included in your combined Valuation Notice and bill), we will include the TV Licence fee under the same GIRO arrangement when we process the application. There is no separate GIRO application for TV Licence fee via Internet Banking.
You need to complete the GIRO Application form (69KB) and select the option to pay only the TV Licence fee via GIRO. However, we encourage you to also pay your property tax by GIRO too, as you will enjoy up to 12 interest-free monthly instalments payments.
If you own a property but have not received any notice from IRAS to pay property tax for more than a year, you need to notify the Chief Assessor in writing.
As long as you principally occupy the HDB flat/ private property, owner-occupier concession will continue to apply.