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How Much to Pay: Singapore Property Tax

property tax singapore

Just like Singapore citizens, foreigners owning a property in Singapore are liable to pay property tax. Property tax is a tax on immovable properties. It is payable based on the percentage of the Annual Value (AV) of the property. The AV is determined by the Inland Revenue Authority of Singapore (IRAS) and is an estimated nnual rent that a property can fetch if it was rented out (minus rental of furniture, fittings and service charges).

If the property is used by the owner or on behalf of the owner, there are allowable expenses before tax.

The Government announced the introduction of progressive tax rates for all residential properties from 1 Jan 2015.

A) Progressive Tax Rates for Residential Properties (Exclude residential land)

Progressive Tax Rates
Annual Value($)Effective 1 Jan 2015
First 30,00010%
Next 15,00012%
Next 15,00014%
Next 15,00016%
Next 15,00018%
AV in excess of $90,00020%

B) Progressive Tax Rates for Owner-Occupied Homes

Progressive Tax Rates
Annual Value($)Effective 1 Jan 2015
First 8,0000%
Next 47,0004%
Next 5,0006%
Next 10,0006%
Next 15,0008%
Next 15,00010%
Next 15,00012%
Next 15,00014%
AV in excess of $130,00016%

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