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?

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The AV could be higher or lower than the actual rental as the AV reflects the market rent at the time IRAS reviews the AV, whereas the actual rental could have been fixed earlier.

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?

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