1. What is Singapore Property Tax?

Singapore Property Tax is a tax levied on property ownership. It's calculated based on the Annual Value (AV) of the property and the applicable tax rate. The AV is the estimated annual rent of the property if it were to be rented out.

2. How Does the Calculator Work?

The calculator uses the property tax formula:

Where:

• \( Annual\ Value \) — Estimated yearly rental value of the property in SGD
• \( Tax\ Rate \) — Applicable tax rate percentage

Explanation: The tax is calculated by multiplying the Annual Value by the tax rate (converted from percentage to decimal).

3. Importance of Property Tax Calculation

Details: Property tax is a significant expense for property owners in Singapore. Accurate calculation helps in financial planning and ensures compliance with tax obligations.

4. Using the Calculator

Tips: Enter the Annual Value in SGD and the tax rate as a percentage (e.g., 10 for 10%). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How is Annual Value determined?
A: The Annual Value is assessed by IRAS based on market rentals of similar properties in the area.

Q2: Are there different tax rates for different properties?
A: Yes, owner-occupied residential properties have different rates than non-owner-occupied and commercial properties.

Q3: When is property tax due?
A: Property tax is payable annually by 31st January. IRAS sends the tax bill in December each year.

Q4: Can I pay my property tax in installments?
A: Yes, GIRO installment plans are available for property tax payments.

Q5: Are there any property tax exemptions?
A: Some properties may qualify for exemptions or concessions, such as those owned by charities or used for specific purposes.