A progressive property tax regime for residential properties was introduced in Budget 2010 and enhanced in Budget 2013. The higher the value of the residential property, the higher the tax rate.
Owner-Occupied Residential Properties
Under the enhanced property tax structure which comes into effect from 1 January 2015, property tax rates for owner-occupied residential properties are based on a progressive scale ranging from 0% to 16%. Owner-occupied residential properties with AV below $8,000 enjoy zero property tax, and they comprise mainly one and two-room HDB flats.
Non-Owner-Occupied Residential Properties
With effect from 1 January 2015, property tax rates for non-owner-occupied residential properties are based on a progressive scale ranging from 10% to 20%.
The tax rates for owner-occupied residential rates will continue to be lower than those for non-owner-occupied residential properties with the same Annual AV.
The property tax rate for land and non-residential properties remains unchanged at 10%.” The property tax rates can be found on IRAS’ website at www.iras.gov.sg.