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Can the AV be reduced to take into account the owner’s expenses such as interest cost, utilities, insurance and taxes?

Updated by IRAS
No, such expenses cannot be deducted for property tax purpose. AV is defined as the estimated gross annual rent at which the property can be let out on a yearly basis, with the landlord paying the expenses of repairs, insurance, maintenance and upkeep of the property.

This information is sourced from IRAS.

Topics:

Property TaxAnnual Value

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