27 Nov '12, 7am

Property tax rebate for most HDB flat owners

All one- and two-room owner-occupiers of HDB homes do not need to pay property tax in 2013, similar to 2012. For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate. The increase in property tax comes after the revision of Annual Values (AVs) of HDB flats with effect from 1 January 2013, reflecting the rise in market rentals. To mitigate the increase in the property tax payable by lower and middle-income households as a result of the AV revision, the government will give a one-off rebate of S$40 to owner-occupied HDB flats. The Inland Revenue Authority of Singapore (IRAS) reviews the AVs of all properties – including HDB flats – annually. The AV, which is based on the estimated annual market rent of a property if it were to be let out, applies to all homes, including owner-occ...

Full article: http://lushhomemedia.com/2012/11/27/property-tax-rebate-f...

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