Parliamentary Replies
Homes with Annual Value of between $13,000 and $21,000 and above $21,000 Respectively
Topics
Government Transfers
Tax-Related (Property Tax)
28 February 2023
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Parliamentary Question by Mr Leong Mun Wai:
To ask the Deputy Prime Minister and Minister for Finance for each year since 2010, what is the percentage of homes that has an Annual Value (i) of between $13,000 and $21,000 and (ii) above $21,000 respectively.
Parliamentary Reply by Deputy Prime Minister and Minister for Finance Mr Lawrence Wong:
The available information extends to the last 5 years. In 2018, around 10% of all residential properties in Singapore had Annual Values (AV) between $13,000 and $21,000, while around 20% had AVs above $21,000. In 2023, the proportions are around 30% and 25% respectively, as AVs have increased significantly due to higher market rentals.
The eligibility for Government social support schemes is not affected by the revision of AVs in 2023, as AVs as of 2022 are used to determine scheme eligibility in 2023. The Government will continue to review our social support schemes, including eligibility criteria, to ensure that Singaporeans in need of support receive it.