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What Is Property Tax in Singapore?
Singapore property tax is an annual tax levied on all real property — residential, commercial, and industrial. Unlike income tax, it is asset-based: you pay it whether you earn rental income or not. The tax is administered by IRAS and is based on the Annual Value (AV) of the property, not its market price.
What Is Annual Value (AV)?
Annual Value (AV) is IRAS’s estimate of the annual rent a property would fetch if leased out on the open market, furnished to a basic standard (i.e., without furniture and fittings). AV is NOT the same as:
- Actual rent you receive (though IRAS uses market rental data to estimate AV)
- Purchase price or valuation (AV is typically 3–5% of market value for private condos)
- Assessed value in other countries’ tax systems
IRAS reviews AV periodically based on prevailing market rents. If rents rise sharply (as in 2022–2023), IRAS may revise AV upward, increasing your property tax bill.
Owner-Occupier Property Tax Rates 2026
If you live in the property as your primary residence and have applied for owner-occupier tax treatment:
| Annual Value Tranche | Tax Rate |
|---|---|
| First $8,000 | 0% |
| Next $22,000 ($8,001–$30,000) | 4% |
| Next $10,000 ($30,001–$40,000) | 6% |
| Next $15,000 ($40,001–$55,000) | 10% |
| Next $15,000 ($55,001–$70,000) | 14% |
| Next $15,000 ($70,001–$85,000) | 18% |
| Next $15,000 ($85,001–$100,000) | 23% |
| Above $100,000 | 32% |
Non-Owner-Occupier (Investment Property) Tax Rates 2026
For properties rented out or left vacant (non-primary-residence):
| Annual Value Tranche | Tax Rate |
|---|---|
| First $30,000 | 12% |
| Next $15,000 ($30,001–$45,000) | 20% |
| Next $15,000 ($45,001–$60,000) | 28% |
| Above $60,000 | 36% |
Worked Example: $1.5M Condo Property Tax 2026
Assume IRAS AV for a $1.5M condo = $42,000/year (indicative)
- Owner-occupier: 0% on first $8K + 4% on $22K ($880) + 6% on $12K ($720) = $1,600/year
- Investment property: 12% on $30K ($3,600) + 20% on $12K ($2,400) = $6,000/year
The difference is $4,400/year — a significant holding cost for investment property owners.
How to Appeal Your IRAS Annual Value
If you believe your AV is too high (e.g., IRAS has overestimated market rent), you can file an objection:
- Log in to myTax Portal (IRAS)
- Submit an objection within 30 days of receiving your property tax notice
- Provide evidence: actual lease agreements, comparable market rentals, or a rental valuation report
- IRAS may revise the AV downward, reducing your tax bill and entitling you to a refund
AV objections are most successful when actual rents have declined below IRAS’s estimate, or when your property has unique features (e.g., directly above noisy infrastructure) that suppress rental value.
Get personalised advice from a licensed property consultant. Free, no-obligation consultation.
Related Guides
- Singapore Condo Downpayment Calculator 2026
- ABSD Singapore 2026 Guide
- Singapore Rental Market 2026 Guide
- First-Time Buyer Guide Singapore 2026
