IRAS | Property Tax Rates

Property tax rates on owner-occupied and non-owner-occupied residential properties are applied on a progressive scale. All other properties are taxed at 10% of the Annual Value.

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Property tax formula

Annual property tax is calculated by multiplying the Annual Value (AV) of the property with the Property Tax Rates that apply to you.

For example, if the AV of your property is $30,000 and your tax rate is 10%, you would pay $30,000 x 10% = $3,000 in property taxes.

Owner-occupier tax rates (residential properties)

Owner-occupied residential properties are condominiums, HDB flats or other residential properties where the owner lives in ("occupies") the property. Owner-occupied residential properties enjoy owner-occupier tax rates.

Owner-occupier tax rates

Annual Value ($)	Effective 1 Jan 2015	Property Tax Payable
First $8,000 Next $47,000	0% 4%	$0 $1,880
First $55,000 Next $15,000	- 6%	$1,880 $ 900
First $70,000 Next $15,000	- 8%	$2,780 $1,200
First $85,000 Next $15,000	- 10%	$3,980 $1,500
First $100,000 Next $15,000	- 12%	$5,480 $1,800
First $115,000 Next $15,000	- 14%	$7,280 $2,100
First $130,000 Above $130,000	- 16%	$9,380

Annual Value ($)	Effective 1 Jan 2023	Property Tax Payable
First $8,000 Next $22,000	0% 4%	$0 $880
First $30,000 Next $10,000	- 5%	$880 $500
First $40,000 Next $15,000	- 7%	$1,380 $1,050
First $55,000 Next $15,000	- 10%	$2,430 $1,500
First $70,000 Next $15,000	- 14%	$3,930 $2,100
First $85,000 Next $15,000	- 18%	$6,030 $2,700
First $100,000 Above $100,000	- 23%	$8,730

Annual Value ($)	Effective 1 Jan 2024	Property Tax Payable
First $8,000 Next $22,000	0% 4%	$0 $880
First $30,000 Next $10,000	- 6%	$880 $600
First $40,000 Next $15,000	- 10%	$1,480 $1,500
First $55,000 Next $15,000	- 14%	$2,980 $2,100
First $70,000 Next $15,000	- 20%	$5,080 $3,000
First $85,000 Next $15,000	- 26%	$8,080 $3,900
First $100,000 Above $100,000	- 32%	$11,980

Example 1: AV of Residential Property is $36,000

Annual Value ($)	Tax rate effective from 1 Jan 2023 to 31 Dec 2023	Property tax payable
First 8,000	X 0%	= 0
Next 22,000	X 4%	= $880
Next 6,000	X 5%	= $300
Property tax payable		= $1,180

Property Tax Payable for 2023 = $1,180

Example 2: AV of Residential Property is $84,000

Annual Value ($)	Tax rate effective from 1 Jan 2023 to 31 Dec 2023	Property tax payable
First 8,000	X 0%	= 0
Next 22,000	X 4%	= $880
Next 10,000	X 5%	= $500
Next 15,000	X 7%	= $1,050
Next 15,000	X 10%	= $1,500
Remaining $14,000	X 14%	= $1,960
Property tax payable		= $5,890

Property Tax Payable for 2023 = $5,890

Non-owner-occupier residential tax rates (residential properties)

Non-owner occupied residential properties are condominiums, HDB flats or other residential properties that the owner does not live in ("occupy"). Hence, owner-occupier tax rates do not apply.

The following tax rates apply to non-owner occupied properties except for those in the exclusion list.

Non-owner-occupier residential tax rates

Annual Value ($)	Effective 1 Jan 2015	Property Tax Payable
First 30,000 Next $15,000	10% 12%	$3,000 $1,800
First $45,000 Next $15,000	- 14%	$4,800 $2,100
First $60,000 Next $15,000	- 16%	$6,900 $2,400
First $75,000 Next $15,000	- 18%	$9,300 $2,700
First $90,000 Above $90,000	- 20%	$12,000

Annual Value ($)	Effective 1 Jan 2023	Property Tax Payable
First 30,000 Next $15,000	11% 16%	$3,300 $2,400
First $45,000 Next $15,000	- 21%	$5,700 $3,150
First $60,000 Above$60,000	- 27%	$8,850

Annual Value ($)	Effective 1 Jan 2024	Property Tax Payable
First 30,000 Next $15,000	12% 20%	$3,600 $3,000
First $45,000 Next $15,000	- 28%	$6,600 $4,200
First $60,000 Above$60,000	- 36%	$10,800

Residential properties on the exclusion list are taxed at 10%.

Excluded properties

Accommodation facilities within any sports and recreational club
Chalet
Child care centre, student care centre, or kindergarten
Welfare home
Hospital, hospice, or place for rehabilitation, convalescence, nursing care or similar purposes
Hotel, backpackers' hostel, boarding house or guest house
Serviced apartment
Staff quarters that are part of any property exempted from tax under S6(6) of the Property Tax Act
Student's boarding house or hostel
Workers' dormitory

The property must have received planning approval for the above use. No application to IRAS is required.

Commercial and industrial properties (Non-Residential)

Non-residential properties such as commercial and industrial buildings and land are taxed at 10% of the Annual Value. Owner-occupier tax rates do not apply to non-residential properties even if you have bought the properties for your own use/occupation.

Example 3: AV of Commercial Property is $54,000

Annual Value ($)	Tax rate	Property tax payable
54,000	X 10%	= $5,400
Property tax payable		= $5,400

FAQs

Knowing my tax rates

If I own and occupy more than one residential property, what will be the tax rate?

The owner-occupier tax rates are only granted to one property owned and occupied by you. For subsequent properties, you will be taxed at non-owner-occupier residential tax rates even if you are occupying it as your second home.

How do I know if my residential property is taxed at owner-occupier tax rates or non-owner-occupier residential tax rates?

From your property tax notice and bill, the tax rate applied on the property is indicated in brackets as [Owner-Occupier Tax Rates] or [Non-owner-occupier Residential Tax Rates] under the "AV and Tax Rates" Column.

Alternatively, you can log in to mytax.iras.gov.sg with your Singpass > Property > View Property Summary.

Tax rates based on use of my property

What is my tax rate if my residential property is used as a home office?

The property may qualify for the property tax rates for residential properties as it is used primarily for residential purposes. However, you must satisfy the terms and conditions set out by URA or HDB for the home office scheme.

What is my tax rate if my residential property is used as a childcare centre?

For landed houses used as childcare centres, approval for change of use must be obtained from URA. The tax rate is 10%.

What rates will apply for shophouses or shopflats with 2 distinct and demarcated uses?

The residential component will be subject to the property tax rates for residential properties while the commercial component will continue to be taxed at 10%.

Do I have to inform IRAS when I change the use of my residential property to non-residential?

Yes, you have to notify IRAS in writing within 15 days from the date of the change.

Do I have to pay property tax on my vacant property?

Yes. Property tax is a tax on property ownership and applies whether the property is rented out, owner-occupied or vacant. It is different from income tax which is levied on the rental income earned from renting out the property. Hence, all property owners would have to pay property tax on their properties regardless whether it is occupied or not.

What are the applicable property tax rates for vacant properties?

Vacant residential property will be taxed at the non-owner-occupier residential tax rates while vacant non-residential property will be taxed at 10% of the Annual Value. There is no tax relief/concession for vacant properties.

Progressivity of tax rates

Why are property tax rates higher for let-out residential properties?

Let-out or rented residential properties are considered investment assets and are taxed at a higher rate than owner-occupied properties. The tax structure ensures that higher-value properties are subject to higher tax rates.

I inherited my property and it has a very high AV. I am staying in my property and do not generate rental income from it. I am just a regular salaried worker and do not intend to sell my property. Why do I need to pay higher property tax?

As opposed to income tax, which taxes the income received by a person, property tax is a wealth tax. It is not a tax on rental income. It is thus levied based on the value of your property, which represents part of your overall wealth. However, to encourage home ownership, you can enjoy a lower tax rate for your owner-occupied residential property.