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. 

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.

     

    1. This is a sample Valuation Notice for a newly completed non-residential property which is taxed from the TOP date of 10 Jan 2021. 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.

      Valuation Notice_Newly TOP Non-Residential Property



    1.  This is a sample Valuation Notice for a residential property which AV has been revised due to the completion of improvement works. As the property is owner-occupied, property tax payable is calculated based on the owner-occupier tax rates of the AV of the property. You can refer to the property tax rates page for the full property tax rates table.

      Valuation Notice_Existing Residential Property


    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.

     

    1. This is a sample Valuation Notice for a residential property which is granted with  remission. Owners of residential properties who demolish their house in order to build a new house for owner-occupation may be eligible to apply for this remission.

      Valuation Notice_Bldg-Land Remission

       

    If you are a new property owner, IRAS will send you a Property Tax Notification Upon Transfer of Property.

     

    1. Once a property is transferred to you, you will be liable for any outstanding property tax including arrears that should have been paid by the previous owner. If there is an outstanding tax amount, your lawyer will assist you to settle the outstanding amount with the seller. Your lawyer will also apportion the current year tax between the seller and yourself. IRAS does not apportion property tax liabilities between the parties. The seller's lawyer will file a Notice of Transfer to IRAS within one month of the sale or property transfer. If any information is incorrect, please inform your lawyer to correct the information submitted to IRAS.

      Transfer of Property