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How does IRAS determine the Annual Value (AV) of my residential property?
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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.
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