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Updated by IRAS The Annual Value (AV) is the estimated annual rent of the property if it were to be rented out. The AV of a residential property is assessed based on market rents of comparable properties and will be adjusted (either upwards or downwards) when there is market evidence to support the revision.
Based on our records, 98% of residential AV objections are unsuccessful with no amendments made to the original assessment. In other words, the AV for the vast majority of residential objections filed are found to be in line with market rents and are therefore unsuccessful.
IRAS adhere to robust valuation practices to ensure a fair and accurate assessment. While it is uncommon for objections to result in changes, IRAS remains committed to reviewing every submission thoroughly with all valid grounds carefully considered.
Before proceeding with an objection, please note that the following grounds for objection are not accepted and will be rejected:
1. High tax rates
2. Financial difficulties
3. You are not receiving any rental income as the property is either vacant or owner-occupied.
4. Issues relating to the property tax apportionment with developers for newly completed properties
We encourage you to review our FAQ section and case studies to understand how AVs are determined before deciding whether to proceed with an objection.
If you require financial assistance on your property tax obligations, please visit the webpage on payment plans.
I just receive my property tax bill and I find the assessed Annual Value (AV) for my residential property is high. I am thinking of filing an objection against my AV. What is the likelihood of a successful downward AV revision through the objection process?
Based on our records, 98% of residential AV objections are unsuccessful with no amendments made to the original assessment. In other words, the AV for the vast majority of residential objections filed are found to be in line with market rents and are therefore unsuccessful.
IRAS adhere to robust valuation practices to ensure a fair and accurate assessment. While it is uncommon for objections to result in changes, IRAS remains committed to reviewing every submission thoroughly with all valid grounds carefully considered.
Before proceeding with an objection, please note that the following grounds for objection are not accepted and will be rejected:
1. High tax rates
2. Financial difficulties
3. You are not receiving any rental income as the property is either vacant or owner-occupied.
4. Issues relating to the property tax apportionment with developers for newly completed properties
We encourage you to review our FAQ section and case studies to understand how AVs are determined before deciding whether to proceed with an objection.
If you require financial assistance on your property tax obligations, please visit the webpage on payment plans.
This information is sourced from IRAS.
Related questions
How does IRAS determine the Annual Value (AV) of my residential property?
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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How do I find out the Annual Value (AV) of a property?
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Can I object to the Annual Value (AV) of my property?
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