Lower Property Tax Rates for Owner-Occupied Residential Properties
Property owners receive different types of bills and valuation notices from IRAS throughout the year. This page explains what each document means and what you need to do.
Note: The tax rates reflected in these sample bills and valuation notices are based on the owner-occupier tax rates effective from 1 Jan 2025 and the non-owner-occupier residential tax rates effective from 1 Jan 2024.
On this page:
Annual Property Tax Bill
Property tax is payable yearly in advance. IRAS sends your bill at the end of each year for the following year's tax.
If you pay by GIRO, you will receive your instalment deduction plan with your property tax bill.
Sample 1A: Annual Property Tax Bill with Annual Value (AV) Revision for a Residential Property
This sample shows a property tax bill where the property's Annual Value (AV) has been revised and the owner pays by GIRO.
Sample 1B: Annual Property Tax Bill for a Non-Residential Property
This sample shows a property tax bill where the property is non-residential, and the owner does not pay by GIRO. To take note that the payment must be made by the due date shown.
Valuation Notices
IRAS may send you a valuation notice during the year when your property's Annual Value changes. This happens when AVs are raised for new properties or when AVs are revised for existing properties.
Sample 2A: Valuation Notice for a New Property
This sample shows a valuation notice for a newly completed residential property which is taxed from the Temporary Occupation Permit (TOP) date of 13 Sep 2025.
Sample 2B: Valuation Notice on Amended Annual Value (AV) for an Existing Residential Property
This sample shows a valuation notice where the Annual Value has been revised due to improvement works done to the property. Since the property is owner-occupied, the property tax payable is calculated based on the owner-occupier tax rates of the AV of the property. You can check the full property tax rates on our rates page.
Other Notices You May Receive
Remission Notices
If you demolished and rebuilt your property for owner-occupation and applied for Property Tax Remission under the Replacement Owner-Occupied House under Construction Remission Order 2013, you will receive a valuation notice showing the remission granted.
Sample 3A: Valuation Notice with Remission Granted for a Residential Property
This sample shows a residential landed property granted remission. Owners who demolish their landed house to build a new house for owner-occupation may be eligible to apply for this remission.
Property Transfer Notifications
If you are a new property owner, IRAS will send you a Property Tax Notification Upon Transfer of Property.
Sample 3B: Property Tax Notification Upon Transfer of Property
When a property is transferred to you, you become liable for any outstanding property tax, including arrears from the previous owner that has not been settled. Your lawyer will help settle any outstanding amounts with the seller. Your lawyer will also apportion the current year tax between you and the seller. IRAS does not apportion property tax between parties. The seller's lawyer will file a Notice of Transfer within 1 month of the sale or property transfer. If any information is incorrect, please inform your lawyer to correct the information submitted to IRAS.
