Property Tax Rates and Sample Calculations
Property tax rates on owner-occupied and non-owner occupied residential properties are applied on a progressive scale. All other properties continue to be taxed at 10% of the Annual Value. Examples of how to calculate property tax are also provided.
Formula for Calculating Property Tax
Annual property tax is calculated by multiplying the Annual Value (AV) of the property with the Property Tax Rates that apply to you .
For example, if the AV of your property is $30,000 and your tax rate is 10%, you would pay $30,000 x 10% = $3,000.
Owner-Occupier Tax Rates (Residential Properties)
Owner-occupied residential properties may be condominiums, HDB flats or other residential properties where the owner lives in ("occupies") the property. Owner-occupied residential properties enjoy owner-occupier tax rates.
| Owner-Occupier Tax Rates |
|---|
| Annual Value ($) | Effective 1 Jan 2015 | Property Tax Payable |
First $8,000
Next $47,000 | 0%
4% | $0
$1,880 |
First $55,000
Next $15,000 | -
6% | $1,880
$ 900 |
First $70,000
Next $15,000 | -
8% | $2,780
$1,200 |
First $85,000
Next $15,000 | -
10% | $3,980
$1,500 |
First $100,000
Next $15,000 | -
12% | $5,480
$1,800 |
First $115,000
Next $15,000 | -
14% | $7,280
$2,100 |
First $130,000
Above $130,000 | -
16% | $9,380 |
| Annual Value ($) | Tax Rate Effective 2015 | Property Tax Payable |
|---|
First 8,000 | X 0% | = 0 |
Next 28,000 | X 4% | = $1,120 |
Property Tax Payable for 2015 | = $1,120 |
| Annual Value ($) | Tax Rate Effective 2015 | Property Tax Payable |
|---|
| First 8,000 | X 0% | = 0 |
| Next 47,000 | X 4% | = $1,880 |
| Next 15,000 | X 6% | = $ 900 |
| Remaining 14,000 | X 8% | = $1,120 |
Property Tax Payable for 2015 | = $3,900 |
Non-owner-occupier Residential Tax Rates (Residential Properties)
Non-owner occupied residential properties may be condominiums, HDB flats or other residential properties. The owner does not live in ("occupy") the property and, therefore, owner-occupier tax rates do not apply.
The following tax rates apply to non-owner occupied properties except for those in the exclusion list.
| Non-owner-occupier Residential Tax Rates |
|---|
| Annual Value ($) | Effective 1 Jan 2015 | Property Tax Payable |
First 30,000
Next $15,000 | 10%
12% | $3,000
$1,800 |
First $45,000
Next $15,000 | -
14% | $4,800
$2,100 |
First $60,000
Next $15,000 | -
16% | $6,900
$2,400 |
First $75,000
Next $15,000 | -
18% | $9,300
$2,700 |
First $90,000
Above $90,000 | -
20% | $12,000 |
Residential properties on the exclusion list will continue to be taxed at 10%.
- Accommodation facilities within any sports and recreational club
- Chalet
- Child care centre, student care centre, or kindergarten
- Welfare home
- Hospital, hospice, or place for rehabilitation, convalescence, nursing care or similar purposes
- Hotel, backpackers' hostel, boarding house or guest house
- Serviced apartment
- Staff quarters that are part of any property exempted from tax under s6(6) of the Property Tax Act
- Student's boarding house or hostel
- Workers' dormitory
For the existing 10% tax rate to apply, the property must have received planning approval for the above use. No application to IRAS is required.
Commercial and Industrial Properties (Non-Residential)
Non-residential properties such as commercial and industrial buildings and land are taxed at 10% of the Annual Value. The owner-occupier tax rates do not apply to non-residential properties even if you have bought the properties for your own use / occupation.
| Annual Value ($) | Tax Rate | Property Tax Payable |
|---|
54,000 | X 10% | = $5,400 |
Property Tax Payable for 2015 | = $5,400 |
Property Tax Rates Prior to 1 Jan 2015
| Owner-Occupier Tax Rates for 2014 |
|---|
| Annual Value ($) | Tax Rates for 2014 | Property Tax Payable |
First $8,000
Next $47,000 | 0%
4% | $ 0
$1,880 |
First $55,000
Next $5,000 | -
5% | $1,880
$ 250 |
First $60,000
Next $10,000 | -
6% | $2,130
$ 600 |
First $70,000
Next $15,000 | -
7% | $2,730
$1,050 |
First $85,000
Next $15,000 | -
9% | $3,780
$1,350 |
First $100,000
Next $15,000 | -
11% | $5,130
$1,650 |
First $115,000
Next $15,000 | -
13% | $6,780
$1,950 |
First $130,000
Above $130,000 | -
15% | $8,730 |
Example 4: AV of Residential Property is $36,000
Annual Value ($) | Tax Rate for 2014 | Property Tax Payable |
|---|
First 8,000 | X 0% | = 0 |
Next 28,000 | X 4% | = $1,120 |
Property Tax Payable for 2014 | = $1,120 |
| Non-owner-occupier Residential Tax Rates for 2014 |
|---|
| Annual Value ($) | Tax Rates for 2014 | Property Tax Payable |
First 30,000
Next $15,000 | 10%
11% | $3,000
$1,650 |
First $45,000
Next $15,000 | -
13% | $4,650
$1,950 |
First $60,000
Next $15,000 | -
15% | $6,600
$2,250 |
First $75,000
Next $15,000 | -
17% | $8,850
$2,550 |
First $90,000
Above $90,000 | -
19% | $11,400 |
Example 5: AV of Residential Property is $95,000
| Annual Value ($) | Tax Rate for 2014 | Property Tax Payable |
|---|
| First 30,000 | X 10% | = $3,000 |
| Next 15,000 | X 11% | = $1,650 |
| Next 15,000 | X 13% | = $1,950 |
| Next 15,000 | X 15% | = $2,250 |
| Next 15,000 | X 17% | = $2,550 |
| Remaining 5,000 | X 19% | = $ 950 |
| Property Tax Payable for 2014 | = $12,350 |
All properties were taxed at 10% of the AV. This includes HDB flats, houses, offices, factories, shop and land.
Owner-Occupied Residential Properties
| Owner-Occupier Tax Rates (Prior to 1 Jan 2014) |
|---|
| Annual Value ($) | Progressive Tax Rate (%) |
First 6,000 | 0 |
Next 59,000 | 4 |
Amount exceeding 65,000 | 6 |