02 Dec '11, 10am

Property tax rise offset by 1-time rebate - Straits Times: AsiaOneProperty tax rise offset

Property tax rise offset by 1-time rebate - Straits Times: AsiaOneProperty tax rise offset

Property tax for Housing Board flats will go up after the revision of Annual Values (AV) of all Housing Board flats from Jan 1. The revision comes as a result of the rise in market values. -- ST PHOTO: TERENCE TAN Property tax for Housing Board flats will go up after the revision of Annual Values (AV) of all Housing Board flats from Jan 1. The revision comes as a result of the rise in market values. However, the tax increase will be offset by a one-time rebate of $55 or the amount of the property tax based on 2012's AV, whichever is lower. The rebate will lessen the increase in property tax payable by lower and middle income households, with 94 per cent of all Housing Board flat owners receiving the rebate, said the Inland Revenue Authority of Singapore (IRAS) in a statement on Friday. The rebate will not apply to Housing Board flats that are not owner-occupied. One and tw...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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