Property tax rates on owner-occupied and non-owner-occupied residential properties are applied on a progressive scale. All other properties are taxed at 10% of the Annual Value. Annual property tax is calculated by multiplying the Annual Value (AV) of the property with the Property Tax Rates that apply to you. For example, if the AV of your property is $30,000 and your tax rate is 10%, you would pay $30,000 x 10% = $3,000 in property taxes. Owner-occupied residential properties are condominiums, HDB flats or other residential properties where the owner lives in ("occupies") the property. Owner-occupied residential properties enjoy owner-occupier tax rates. First $8,000 0% $0 First $55,000 - $1,880 First $70,000 - $2,780 First $85,000 - $3,980 First $100,000 - $5,480 First $115,000 - $7,280 First $130,000 - $9,380 First $8,000 0% $0 First $30,000 - $880 First $40,000 - $1,380 First $55,000 - $2,430 First $70,000 - $3,930 First $85,000 - $6,030 First $100,000 - $8,730 First $8,000 0% $0 First $30,000 - $880 First $40,000 - $1,480 First $55,000 - $2,980 First $70,000 - $5,080 First $85,000 - $8,080 First $100,000 - $11,980
Example 2: AV of Residential Property is $84,000
Property tax payable = $3,900 Non-owner-occupier residential tax rates (residential properties)Non-owner occupied residential properties are condominiums, HDB flats or other residential properties that the owner does not live in ("occupy"). Hence, owner-occupier tax rates do not apply. The following tax rates apply to non-owner occupied properties except for those in the exclusion list. Non-owner-occupier residential tax rates
Excluded properties
The property must have received planning approval for the above use. No application to IRAS is required. Commercial and industrial properties (Non-Residential)Non-residential properties such as commercial and industrial buildings and land are taxed at 10% of the Annual Value. Owner-occupier tax rates do not apply to non-residential properties even if you have bought the properties for your own use/occupation. FAQsKnowing my tax ratesTax rates based on use of my property
Do I have to pay property tax on my vacant property?Yes. Property tax is a tax on property ownership and applies whether the property is rented out, owner-occupied or vacant. It is different from income tax which is levied on the rental income earned from renting out the property. Hence, all property owners would have to pay property tax on their properties regardless whether it is occupied or not. Progressivity of tax ratesWhich of the following is included in paragraph 2 of the TREC one to four family residential contract?Which of the following is included in paragraph 2 of the TREC One to Four Family Residential Contract? The answer is excluded fixtures and accessories.
What is something an agent should never put in paragraph 11 of the TREC promulgated contract form?What is something a real estate licensee should never put in paragraph 11 of the TREC-promulgated contract? valid. add a factual statement or business detail to the agreement.
Who is responsible for filling in the effective date on the sales contract?In order for the Contract to be “Effective” (and enforceable), it must be signed by Buyer and Seller AND delivered to all parties. The date that the last one of the Buyer and Seller signs the Contract (usually the Seller), and delivers the fully signed Contract to all the parties is the “Effective Date”.
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