Reduction in the 2015 Property Tax for HDB Flats
All one- and two-room owner-occupiers of HDB flats will continue to pay no property tax in 2015 while those in bigger flats will see reductions compared to 2014.
The reduced property taxes will apply from 1 January 2015, when the Annual Values (AVs) are lowered by about 3% to reflect the dip in market rentals.
This is the second year in which HDB households will see reduced property taxes. As a result of the more progressive tax rates implemented since 2014, as well as the latest revisions in AVs, HDB residents will enjoy tax savings of between $42
and $54 in 2015 compared to two years ago.
Annual Values are reviewed on a yearly basis
The Inland Revenue Authority of Singapore (IRAS) reviews the AVs of properties - including HDB flats – each year. The AV is the estimated annual market rent of a property. Property tax payable on HDB flats is calculated by applying the relevant
set of property tax rates on their AVs. Most HDB flats are taxed at owner-occupier tax rates. For non-owner-occupied HDB flats, they are taxed at the residential property tax rates 1.
From 2014, property tax rates 2 were made more progressive. Significantly, owner-occupiers of HDB
flats paid less property tax compared to 2013, as the first tier of tax-exempt AV was raised from $6,000 to $8,000
In 2015, all one- and two-room owner-occupiers will continue to pay no property tax. Owners residing in three-/four-/five-room flats and executive flats will enjoy property tax savings of $12 to $14 due to the fall in AVs.
As a result of the new progressive tax rates as well as the latest revisions in AVs, HDB residents will enjoy tax savings of between $42 and $54 in 2015 compared to two years ago.
| Property Type | Range of Annual Property Tax Payable | ||
|---|---|---|---|
| 2015 | 2014 | 2013 | |
| 3-Room Flats | $1.60 - $49.60 | $13.60 - $61.60 | $44.00 - $92.00 |
| 4-Room Flats | $85.60 - $133.60 | $100.00 - $148.00 | $128.00 - $176.00 |
| 5-Room Flats | $121.60 - $169.60 | $136.00 - $184.00 | $164.00 - $212.00 |
| Executive Flats 3 | $133.60 - $181.60 | $148.00 - $196.00 | $188.00 - $236.00 |
Property Tax for 2015 is payable by 31 January 2015
HDB flat owners will receive their property tax notices and bills by end-December 2014. Property tax has to be paid by 31 January 2015. IRAS encourages property owners to join the GIRO payment scheme for property tax to enjoy up to 12 interest-free monthly
instalments. Taxpayers who have bank accounts with DBS/POSB, OCBC or UOB can apply for GIRO via Internet Banking and receive instant approval.
A 5% penalty will be imposed on owners who fail to pay or have not arranged to pay their tax by 31
January 2015. Owners facing financial difficulties are advised to contact IRAS at 1800-356 8300 before the due date to discuss a suitable payment plan.
For more information property tax Information for HDB flat owners, please visit our website
Inland Revenue Authority of Singapore
1 Refer to
Annex 1 (PDF, 124KB) for an illustration of property tax computations.
2 Refer
to Annex 2 (PDF, 82KB) for the progressive property tax rates.
3 HDB Executive Flats do not
include Executive Condominiums, which are considered private homes.