How does IRAS determine the Annual Value (AV) of my residential property?
The Annual Value (AV) is the estimated gross annual rent of the property if it were to be rented out, excluding furniture, furnishings and maintenance fees. It is determined based on estimated market rentals of similar or comparable residential properties and not on the actual rental income received.
The way the AV is determined is the same regardless of whether the property is owner-occupied, vacant or rented out.
Related questions
The actual rent for my property is $2,500 per month. However, IRAS has informed that the Annual Value (AV) is $3,000 per month. How does IRAS determine the AV?
My property is not rented out. How does IRAS estimate its rental value in order to arrive at the Annual Value (AV)?
What is the Annual Value (AV) of a property and why is the AV of my place of residence used to assess my eligibility for Workfare Income Supplement (WIS)?
How is the annual value of my property calculated?
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