27 Nov '12, 9pm

Higher property tax for most HDB owners in 2013 - TODAYonline

SINGAPORE - Rising rents of Housing and Development Board (HDB) flats since the start of this year will mean a higher property tax for most owners next year, the Inland Authority of Singapore (IRAS) said yesterday. The bill for the majority of HDB flat types - three-room, four-room, five-room and executive - will increase by between S$39 and S$51, after taking into account a one-off S$40 rebate from the Government. One-room and two-room owner-occupiers of HDB homes will not have to pay property tax next year, as their revised Annual Values (AVs) remain below S$6,000. The AV is the estimated annual market rent of a property if it were rented out, and is used as a basis to compute the property tax payable. The increase in property tax comes after the revision of AVs of HDB flats with effect from Jan 1 next year, reflecting the rise in market rentals, said IRAS. Since the las...

Full article: http://www.todayonline.com/Singapore/EDC121128-0000035/Hi...

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