How to read your Annual Bill and Valuation Notice

Sample bills and valuation notices based on different scenarios with annotations on how to read these sample bills and valuation notices.

Annual Property Tax Bill 

Property tax is payable yearly in advance. At the end of each year, IRAS sends property owners the property tax bill for the following year.

Owners who have opted for GIRO payment will receive their instalment deduction plan with their property tax bills. Otherwise, they will receive a payment slip.

This is a sample property tax bill showing the revised Annual Value (AV) of the property where the owner is not paying by GIRO.

Year 2018 e-Bill Residential Non GIRO-1

  1. Notice under Section 20(1) informs you of the latest Annual Value (AV) proposed by the Chief Assessor. This is the proposed AV of the property. Divide the AV by 12 to derive the estimated monthly market rental for the property.
  2. This is the payment due date. The property tax outstanding is payable regardless of whether the owner has filed any claims or objections to the tax payable.
  3. This is the Property Tax Reference Number  for making payment via Internet banking, AXS or SAM. Alternatively, you can apply for GIRO at mytax.iras.gov.sg (OCBC) or Internet Banking (DBS/POSB & UOB).

    Year 2018 e-Bill Residential Non GIRO-2
  4. This section shows the rate at which the property owner is taxed (owner-occupier tax rates/residential tax rates). If the property is taxed at owner-occupier tax rates , there will be an [Owner-Occupier Tax Rates] indicator. Otherwise, it will reflect as [Residential Tax Rates].
  5. This is the amount of property tax payable for the following year.
  6. This amount is the outstanding tax balance before the issuance of this bill which must be paid by the due date of the prior bill.
  7. Property owners who wish to file an objection to the AV are required to enter this Notice No. in the Notice of Objection form.

     


     

    This is a sample property tax bill for a non-residential property. The bill includes a GIRO instalment deduction plan as the owner is paying by GIRO.

     Year 2018 Non-Residential GIRO-1

    1.     This is the new tax balance payable after the issuance of this bill.

    2.     This notifies the owner that there is an arrangement to pay the property tax via GIRO.

    3.     This is the bank account which you have arranged to pay your property tax.

    4.     Non-Residential Tax Rate of 10% is applied on your property.

    5.     This is the amount of property tax payable for the following year.

    6.    This amount shows the tax balance before the issuance of this bill.

     
    Year 2018 Non-Residential GIRO-2

     7.     You also can view your instalment plan by logging in to mytax.iras.gov.sg with your SingPass > Account > View Payment Plan. 

     

     

    Valuation Notices

    During the year, IRAS may send you a Valuation Notice with the Annual Value (AV) for new properties or revised AV for existing properties.

    2a. Sample VN for New Property

    1. A Valuation Notice issued under Section 20(1) of the Property Tax Act is to inform the owner of the AV of the property for the current year as proposed by the Chief Assessor.
    2. A Valuation Notice issued under Section 22(1) of the Property Tax Act is to inform the owner of the tax amount to be recovered for the period before the AV for the current year takes effect. In this case, it starts from the date the building achieves TOP status on Dec 2012.
    3. Property owners who wish to file an objection to the AV are required to enter this Notice No. in the Notice of Objection form.
    4. This is the proposed AV.
    5. This is the date of completion of the building (TOP date).
    6. This is the payment due date. Property tax is payable regardless of whether the owner has filed any claims or objections to the tax payable.
    7. This amount shows the previous tax balance. Since this is a new assessment, there is no previous tax balance.
    8. This amount shows the tax payable from the TOP date to the end of the current year.
    9. This is the amount payable.
    10. For owner-occupied residential properties, new progressive property tax rates will apply with effect from 1 Jan 2014: First $8,000 AV @ 0%, Next $47,000 @ 4%, and so on.

    If the property is granted with owner-occupier tax rates, there will be an [Owner-Occupier Tax Rates] indicator. Please refer to the property tax rates page for the full property tax rates table.


    2c. Sample VN on amended AV for existing Non-Residential Property

    1. A Valuation Notice issued under Section 20(1) of the Property Tax Act is to inform the owner of the Annual Value (AV) of the property for the current year as proposed by the Chief Assessor.
    2. Property owners who wish to file an objection to the AV are required to enter this Notice No. in the Notice of Objection form.
    3. This is the revised AV.
    4. This is the effective date of the revised AV.
    5. This is the payment due date. Property tax is payable regardless of whether the owner has filed any claims or objections to the tax payable.
    6. This amount shows the previous tax balance before the revision of the AV which must be paid by the due date of the prior notice.
    7. This amount shows the additional tax payable due to the revision of the AV.
    8. This is the amount payable.
    9. Property tax is payable at 10% per year for all non-residential properties regardless of whether the property is let, vacant or for own use.
    10. This is the new tax payable after the revision of the AV.

    Other Notices

    If you have demolished and rebuilt your property for subsequent owner-occupation and have applied for Property Tax Remission for Residential Property (Replacement Owner-Occupied House under Construction) Remission Order 2013, IRAS will send you a Valuation Notice with the Remission granted.

    Sample 3A: Valuation Notice with Remission granted for a Residential Property

    1. A Valuation Notice issued under Section 20(1) of the Property Tax Act is to inform the owner of the Annual Value (AV) of the property for the current year as proposed by the Chief Assessor.
    2. Property owners who wish to file an objection to the AV are required to enter this Notice No. in the Notice of Objection form.

    3. This is the revised AV.
    4. This is the effective date of the revised AV.
    5. This is the payment due date. Property tax is payable regardless of whether the owner has filed any claims or objections to the tax payable.

    6. This amount shows the previous tax balance before the revision of the AV which must be paid by the due date of the prior notice.
    7. This amount shows the reduction due to the granting of remission.
    8. This is the revised amount payable.
    9. Property tax is payable based on owner-occupier tax rates before the demolition of the property. .
    10. This shows that you are granted the property tax remission. You will continue to enjoy owner-occupier tax rates on the property during the period of construction.
    If you are a new property owner, IRAS will send you a Property Tax Notification Upon Transfer of Property.

     

    Sample 3A: Valuation Notice with Remission granted for a Residential Property

    1. The date of your tax liability is indicated in the notice of transfer filed by the seller's lawyer. If the information is incorrect, please inform your lawyer to correct the information submitted to IRAS.
    2. This is to inform you that the owner-occupier tax rates was applied to the property as you or any of the co-owners does not enjoy the same concession on other properties.

    3. This is to inform you that no payment is necessary. During completion of sale, your lawyer would have apportioned the current year tax between the seller and yourself.
    4. This is the amount payable for the whole year.
    5. This shows no additional tax is payable after the transfer.

    6. This shows the tax computation based on owner-occupier tax rates.

    RATE THIS PAGE

    • Strongly Disagree
    • Strongly Agree

    Information is easy to understand.

    Information is useful.

    Information is easy to find.

     
    Please email us if you would like us to respond to your enquiries.