- \n
- HDB Flats<\/strong>: A 20% rebate for owner-occupied units.<\/li>\n
- Private Residential Properties<\/strong>: A 15% rebate, capped at $1,000.<\/li>\n<\/ul>\n
These rebates will automatically offset property tax bills and apply to all eligible properties, according to a joint statement from the Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS).<\/p>\n
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<\/p>\nLower Tax Bills for Most Homeowners<\/strong>
\nIn addition to the rebate, changes to annual value bands for owner-occupied homes will kick in from January 1, 2025. The annual value threshold for zero percent tax will increase from $8,000 to $12,000. This means:<\/p>\n- \n
- All one- and two-room HDB flats will remain exempt from property tax.<\/li>\n
- For other HDB flats, property tax will be calculated at a marginal rate of 4% for the portion of the annual value above $12,000.<\/li>\n<\/ul>\n
These adjustments ensure all HDB flats and over 90% of private residential properties will enjoy lower tax bills next year.<\/p>\n
Understanding Property Tax<\/strong>
\nProperty tax is based on a property\u2019s annual value, which reflects the estimated rental income it could fetch in a year. By raising the annual value threshold and providing rebates, the government is helping homeowners manage their expenses while maintaining Singapore\\’s fair and progressive tax system.<\/p>\nThis rebate will automatically be applied, so homeowners don\u2019t need to take any action.<\/p>\n
- Private Residential Properties<\/strong>: A 15% rebate, capped at $1,000.<\/li>\n<\/ul>\n