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Property Tax

Understand how you're taxed

What is property tax?

Property tax is an asset tax (levied on property ownership). It is thus levied on the ownership of properties, irrespective of whether the property is occupied or vacant.

How much youโ€™re being taxed depends on the Annual Value of your property, which is the estimated gross annual rent, assuming the property is rented out at market value.

You pay progressive tax rate for your property ie. you pay less if your property annual value is lower. See the tables below with the progressive rate that gets higher.

Owner occupied or not?

If you stay in your property, you will pay a lower tax rate under owner-occupied rate.

On the other hand, if you rent out the whole property, you will have to pay a higher tax rate. Basically government tax you more for being an investor with multiple properties.

Owner-occupied Rate

Annual Value Tax Rate
1st $8k nothing
Next $22k 4%
Next $10k 6%
Next $15k 10%
Next $15k 14%
Next $15k 20%
Next $15k 26%
Exceeds $100k 32%

For 2025, the tax tiers have being lowered:

Annual Value 2025 (NEW) Tax Rate
1st $12k nothing
Next $28k 4%
Next $10k 6%
Next $25k 10%
Next $10k 14%
Next $15k 20%
Next $40k 26%
Exceeds $140k 32%

Non-owner-occupied Rate

Annual Value Tax Rate
1st $30k 12%
Next $15k 20%
Next $15k 28%
Exceeds $60k 36%

Commercial and industrial properties

Non-residential properties such as commercial and industrial buildings and land are taxed at a flat 10% of the Annual Value.

When is property tax payable?

Property tax will be send in late Dec, and will have to be paid 1 month later by Jan 31. Taxed annually, paid in advance.

For example, the property tax of 2025 will have the notices be sent in Dec 2024, and has to be paid by 31 Jan 2025.

What if you move in/out of the property?

Property owners must notify IRAS within 15 days.

The penalty for non-compliance of the above obligation is a fine of up to $5,000 and an interest on the tax at such rate as may be prescribed (if any).

You can apply/withdraw Owner-Occupier Tax Rates from IRAS website.

Changes in policy

There are many adjustments. FYI: 2024, 2025