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Singapore Property Tax Guide

Property tax in Singapore is levied annually by the Inland Revenue Authority of Singapore (IRAS) based on the property's Annual Value (AV). Understanding tax rates, calculations, and payment methods is crucial for compliance and financial planning.

What is Property Tax?

Property tax is an annual tax imposed on immovable properties, including residential, commercial, and industrial properties.

Key Features of Property Tax

  • Tax is based on the property's Annual Value (AV).
  • Owners are responsible for payment, regardless of occupancy status.

Property Tax Rates

1. Residential Properties – Owner-Occupied

Owner-occupier tax rates apply to one residential property that you own and live in. Rates are progressive on Annual Value (AV), effective 1 January 2025:

Annual Value (S$)Tax Rate
First 12,0000%
Next 28,000 (12,001 – 40,000)4%
Next 10,000 (40,001 – 50,000)6%
Next 25,000 (50,001 – 75,000)10%
Next 10,000 (75,001 – 85,000)14%
Next 15,000 (85,001 – 100,000)20%
Next 40,000 (100,001 – 140,000)26%
Above 140,00032%

Example: a property with an AV of S$36,000 pays nothing on the first S$12,000 and 4% on the next S$24,000 – S$960 for the year.

2. Residential Properties – Non-Owner-Occupied

These are residential properties the owner does not live in, such as those rented out, left vacant or held by a company. Rates are progressive on AV, effective 1 January 2024:

Annual Value (S$)Tax Rate
First 30,00012%
Next 15,000 (30,001 – 45,000)20%
Next 15,000 (45,001 – 60,000)28%
Above 60,00036%

Certain residential properties on IRAS’s exclusion list (for example serviced apartments, hotels, workers’ dormitories, welfare homes, child care centres and student hostels) are taxed at a flat 10% instead.

3. Non-Residential Properties

Commercial and industrial properties, and land, are taxed at a flat 10% of the Annual Value. Owner-occupier rates do not apply to non-residential property, even if you occupy it yourself.

4. Property Tax Rebate for 2026

For 2026 the Government granted a one-off property tax rebate for owner-occupied homes: 15% for owner-occupied HDB flats and 10% (capped at S$500) for owner-occupied private residential properties. Rebates are announced each year – confirm the current position with IRAS.

How to Calculate Property Tax

  1. Determine the AV: Assessed by IRAS based on estimated market rental value.
  2. Apply the Relevant Tax Rate: Use the applicable tax rate for owner-occupied or non-owner-occupied status.

Payment of Property Tax

  • Tax bills are issued in December.
  • Payment deadline: 31 January.
  • Methods: Online banking, GIRO, credit/debit card.

Penalties for Late Payment

  • 5% penalty for late payment.
  • Additional fines or legal action for prolonged non-compliance.

Property Tax Exemptions and Reliefs

  • Exemptions for vacant land held for development.
  • Charitable organization properties may qualify for relief.
  • Relief for properties under renovation.

Tips for Managing Property Tax

  • Verify AV assessments regularly.
  • Set up GIRO payments for easier tax management.
  • Seek professional advice for AV disputes or exemptions.

How Apexia Corporate Advisory Can Help

  • Tax Assessment: Review your property tax obligations.
  • AV Dispute Resolution: Assistance with appeals.
  • Exemption Applications: Guidance on tax relief eligibility.
  • Payment Planning: Help with structuring tax payments.

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