You can check the current Annual Value (AV) of your property via View Property Portfolio by logging in to myTax Portal with your SingPass .
The AV of a taxable property in Singapore is available in the Valuation List.
Definition of Annual Value
The Annual Value of your property is the estimated annual rent of your property if it were to be let, excluding the rent for furniture, fittings and service charge. The basis is the same for let, owner-occupied or vacant properties.
IRAS determines the Annual Value of the property by analysing the rents of comparable properties.
Example:
Estimated rent of your property is $1,000 per month
Annual Value is: $1,000 x 12 = $12,000
For specialised properties, please refer to the following e-Tax Guides for Property Tax:
Review of Annual Value
IRAS reviews the AVs of most properties yearly to ensure that the AVs are at prevailing market rents. If the market rents do not go below or above the AVs, no adjustment will be made during the review.
The market rent of your property may be affected by additions and alterations, demolition, rebuilding and improvements made, if any.
Notification on Change in AV
IRAS will send you a valuation notice if there is a change to the AV of your property.
FAQs (including specific cases and scenarios)
No. Property Tax is payable based on a percentage (Tax rate) of the Annual Value (AV) of your property. The concept of deducting allowable expenses for income tax is not applicable for property tax.
Yes. You may appeal to the Valuation Review Board (VRB).
Appeal to the VRB must be made within 21 days of the notice of our decision on the outcome of your objection. You need to pay a fee to VRB as follows:
- $50 for residential property enjoying owner-occupier's concessionary tax rate
- $200 for any other property
In your appeal, you would have to state the grounds of your appeal and whether you have an agent to represent you in the appeal.
Property tax is a tax on the property and is payable yearly in advance in January each year. We regret that we are unable to grant a waiver of property tax. In view of your financial circumstances, we are prepared to allow you to pay the property tax by monthly instalments through Giro.