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Updated by IRAS Our Property Tax (PT) regime is progressive and designed to distribute tax obligations equitably. Property Tax on residential properties follows a progressive tax rate schedule, where the higher value the property, the higher the property tax. This applies to both owner-occupier tax rates and non-owner-occupier tax rates for residential properties.
Private condominium units typically command higher rents in the market compared to HDB flats and would thus have higher AVs, even for units with similar floor areas due to the differences in their various property characteristics. For example, private condominiums have additional facilities and amenities (such as swimming pools, gyms, on-site security) that contribute to higher potential rents as compared to HDB flats.
Therefore, the annual PT for a condominium unit is higher than a HDB flat of a similar size because it has a higher AV and corresponding tax rates.
I recently moved from a HDB flat to a private condominium unit. Why is the property tax higher for my private condominium unit even though the size of the two properties is similar?
Private condominium units typically command higher rents in the market compared to HDB flats and would thus have higher AVs, even for units with similar floor areas due to the differences in their various property characteristics. For example, private condominiums have additional facilities and amenities (such as swimming pools, gyms, on-site security) that contribute to higher potential rents as compared to HDB flats.
Therefore, the annual PT for a condominium unit is higher than a HDB flat of a similar size because it has a higher AV and corresponding tax rates.
This information is sourced from IRAS.
Related questions
A Singapore Citizen who owns an HDB flat wishes to purchase a private condominium. Will Additional Buyer's Stamp Duty (ABSD) be payable if the HDB flat is sold upon the condominium's Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) issuance?
I purchased an HDB flat and allowed the previous owner to extend his stay for 3 months after the transfer of the flat. I understand that the previous owner has paid the property tax in full based on the owner-occupier tax rates. Why was I notified now to pay an additional property tax?
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How do I know if my residential property is taxed at the owner-occupier tax rates or non-onwer-occupier residential tax rates?
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To give me an idea of whether the AV of my property is fair, where can I find information on private residential properties or HDB flats that are let out?
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