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 are taxed at 10% of the Annual Value.
Property tax formula
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% = $3,000 in property taxes.
Owner-occupier tax rates (residential properties)
Owner-occupied residential properties are condominiums, HDB flats or other residential properties where the owner lives in ("occupies") the property. Owner-occupied residential properties enjoy owner-occupier tax rates.
| Owner-occupier tax rates |
|---|
| Annual Value ($) | 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 | = $1,120 |
| Annual Value ($) | 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 | = $3,900 |
Non-owner-occupier residential tax rates (residential properties)
Non-owner occupied residential properties are condominiums, HDB flats or other residential properties that the owner does not live in ("occupy"). Hence, owner-occupier tax rates do not apply.
The following tax rates apply to non-owner occupied properties except for those in the exclusion list.
| Non-owner-occupier residential tax rates |
|---|
| Annual Value ($) | 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% | $12,000 |
Residential properties on the exclusion list are taxed at 10%.
- Accommodation facilities within any sports and recreational club
- Chalet
- Child care centre, student care centre, or kindergarten
- Welfare home
- Hospital, hospice, or place for rehabilitation, convalescence, nursing care or similar purposes
- Hotel, backpackers' hostel, boarding house or guest house
- Serviced apartment
- Staff quarters that are part of any property exempted from tax under S6(6) of the Property Tax Act
- Student's boarding house or hostel
- Workers' dormitory
The property must have received planning approval for the above use. No application to IRAS is required.
Commercial and industrial properties (Non-Residential)
Non-residential properties such as commercial and industrial buildings and land are taxed at 10% of the Annual Value. Owner-occupier tax rates do not apply to non-residential properties even if you have bought the properties for your own use/occupation.
| Annual Value ($) | Tax rate | Property tax payable |
|---|
54,000 | X 10% | = $5,400 |
Property tax payable | = $5,400 |