Your property tax is based on a percentage (Tax rate) of the Annual Value (AV) of your property.
Example of property tax computation (Property eligible for the Budget 2009 Property Tax rebate):
This table illustrates how the property tax payable is computed after taking into account the commercial and industrial property tax rebate.
| |
Annual Value |
Tax Rate |
Tax Payable |
| Property Tax based on Annual Value 1 Jan 2009 - 31 Dec 2009 |
$90,000 |
10% |
$9,000 |
Less: 40% Property Tax Rebate
Tax payable after rebate: |
|
|
$3,600
$5,400 |
Example of property tax computation (Property not eligible for the Budget 2009 Property Tax rebate):
This table illustrates how the property tax payable is computed.
| |
Annual Value |
Tax Rate |
Tax Payable |
| Property Tax based on Annual Value 1 Jan 2009 - 31 Dec 2009 |
$90,000 |
10% |
$9,000 |
| |
|
Total |
$9,000 |
Please refer to the e-Tax Guide on 40% Property Tax Rebate for Commercial and Industrial Properties and FAQs for more details.
For specialised properties, please refer to the following e-Tax Guides for other methods of assessment for Property Tax: