Singapore Annual Property Tax Guide 2026: Annual Value, IRAS Rates and 2026 Rebate Explained
🏠 Quick Answer: Singapore Property Tax 2026
- Property tax is administered by IRAS and is charged on all Singapore real estate annually, including HDB flats, private condominiums, landed homes, and commercial premises.
- Annual Value (AV) is the estimated gross annual rent your property could fetch if rented out unfurnished — this is the tax base, not the market price.
- Owner-occupiers enjoy subsidised rates starting at 0% on the first S$12,000 AV, rising progressively to 32% above S$140,000 AV.
- Investment/rental properties face much higher non-owner-occupier (non-OO) rates: 12%–36% progressive, with no zero-rate band.
- 2026 rebate: 15% off for owner-occupied HDB flats; 10% off (capped at S$500) for owner-occupied private properties.
- Payment deadline is 31 January of each year. IRAS sends tax bills in December for the following calendar year.
- You can appeal your AV within 30 days of the date of the Valuation Notice if you believe it is incorrect.
- HDB flats typically pay S$0–S$300/year as an owner-occupier; a high-floor CCR condo could pay S$2,000–S$10,000+ as a non-owner-occupier.
What Is Property Tax in Singapore?
Property tax is an annual levy imposed by the Inland Revenue Authority of Singapore (IRAS) on all Singapore real estate — from HDB flats and executive condominiums to freehold condominiums, landed houses, and commercial buildings. Unlike stamp duties (one-time taxes payable on purchase), property tax recurs every calendar year for as long as you own the property.
The legal authority is the Property Tax Act (Cap. 254). IRAS administers the tax, determines the Annual Value of every property in Singapore, and issues tax bills each December. The bill covers the entire following calendar year (January to December), with payment due by 31 January.
Unlike income tax, property tax is charged regardless of whether you actually earn rental income from the property. An owner living in his own home pays property tax — just at the preferential owner-occupier rates. An investor who leaves a condo vacant still pays the full non-owner-occupier rate.
Annual Value (AV): The Tax Base
The cornerstone of Singapore’s property tax system is the Annual Value (AV) — not the market price of your property. IRAS defines AV as the estimated gross annual rent a property would command on the open market if let in its unfurnished state, excluding furniture, fittings, and service charges.
IRAS determines AV by referencing actual comparable rental transactions in the same building or nearby comparable developments. For HDB flats, IRAS analyses registered HDB rental contracts; for private condominiums, it cross-references URA’s Realis caveats database. AV is reviewed continuously and can change when rental markets shift significantly.
You can check your property’s current AV free of charge via the IRAS “View Property Summary” digital service at myTax.iras.gov.sg. You will need your Singpass login. For a broader view of comparable rental transactions used to set AVs, the URA Renting Property portal publishes registered rental contract data quarterly.
Typical AV ranges for 2026 (illustrative, IRAS-assessed):
| Property Type | Typical AV Range (S$ p.a.) | Owner-OO Tax | Non-OO Tax |
|---|---|---|---|
| HDB 2-room flat | $6,600 – $7,800 | $0 – $0 | $792 – $936 |
| HDB 3-room flat | $8,400 – $9,600 | $0 – $0 | $1,008 – $1,152 |
| HDB 4-room flat | $9,600 – $11,400 | $0 | $1,152 – $1,368 |
| HDB 5-room flat | $12,000 – $14,400 | $0 – $96 | $1,440 – $1,728 |
| 1BR condo (OCR) | $18,000 – $22,000 | $240 – $560 | $2,160 – $2,640 |
| 2BR condo (OCR) | $24,000 – $32,000 | $800 – $1,440 | $2,880 – $3,840 |
| 2BR condo (CCR) | $36,000 – $52,000 | $2,000 – $4,440 | $4,320 – $6,240 |
| Landed terrace | $60,000 – $90,000 | $5,800 – $11,600 | $11,040 – $19,440 |
| Good Class Bungalow | $140,000 – $300,000+ | $36,800+ | $50,400+ |
The Two Property Tax Rate Schedules
Owner-Occupier (OO) Rates — Effective 1 January 2025
If you live in the property as your principal place of residence, you qualify for the owner-occupier rate, the most favourable schedule. You may only have one owner-occupier property at a time. To claim the OO rate on your private property, you must notify IRAS and you will lose the OO concession for any other property you own.
| Annual Value Band (S$) | Marginal Rate | Tax on Band | Cumulative Tax |
|---|---|---|---|
| First $12,000 | 0% | $0 | $0 |
| Next $28,000 ($12,001–$40,000) | 4% | $1,120 | $1,120 |
| Next $10,000 ($40,001–$50,000) | 6% | $600 | $1,720 |
| Next $25,000 ($50,001–$75,000) | 10% | $2,500 | $4,220 |
| Next $10,000 ($75,001–$85,000) | 14% | $1,400 | $5,620 |
| Next $15,000 ($85,001–$100,000) | 20% | $3,000 | $8,620 |
| Next $40,000 ($100,001–$140,000) | 26% | $10,400 | $19,020 |
| Above $140,000 | 32% | Progressive | $19,020+ |
For most Singaporeans in HDB flats, AV falls below S$14,400. Owners of a 4-room flat with AV ~S$10,500 pay zero property tax under the owner-occupier schedule.
Non-Owner-Occupier (Non-OO) Residential Rates — Effective 1 January 2025
If you own a residential property that you do not live in — whether rented out, left vacant, or held as a second home — you pay the non-owner-occupier rate. This applies to all Buy-to-Let investors, owners of multiple private properties, and HDB flat owners who have rented out their entire flat.
| Annual Value Band (S$) | Marginal Rate | Tax on Band | Cumulative Tax |
|---|---|---|---|
| First $30,000 | 12% | $3,600 | $3,600 |
| Next $15,000 ($30,001–$45,000) | 20% | $3,000 | $6,600 |
| Next $15,000 ($45,001–$60,000) | 28% | $4,200 | $10,800 |
| Above $60,000 | 36% | Progressive | $10,800+ |
Non-Residential Property Rates
Commercial properties, industrial units, offices, and shophouses are taxed at a flat 10% of AV regardless of owner-occupancy status. There is no progressive schedule for non-residential properties.
The 2026 Property Tax Rebate
As part of the Government’s cost-of-living support measures, IRAS is granting a one-off property tax rebate for 2026:
- Owner-occupied HDB flats: 15% rebate on the property tax payable, automatically credited against the bill.
- Owner-occupied private residential properties: 10% rebate, capped at S$500 per property.
The rebate is applied automatically — you do not need to apply. It appears as a credit on your December 2025 property tax bill (covering calendar year 2026). For an HDB 4-room flat owner who would otherwise pay S$0, the rebate has no dollar impact. For a private condo owner paying S$3,000 in property tax, the rebate saves S$300 (10%), bringing the bill to S$2,700.
Rate Progression History: How We Got Here
Singapore’s property tax rates have risen sharply since 2022 as the government sought to moderate a surging residential market and reduce speculative demand. The changes came in three stages:
- 2013: Owner-occupier top rate was 6%; non-OO was 10% flat.
- February 2022 Budget: Announced major rate hikes effective 1 January 2023 — OO top bracket up to 20%, non-OO up to 27%.
- February 2023 Budget: Second round of increases effective 1 January 2024 — OO top rate up to 24%, non-OO up to 34%.
- February 2024 Budget: Final tranche effective 1 January 2025 — OO top rate reaches 32%, non-OO reaches 36%.
These increases were explicitly framed by the Ministry of Finance as wealth redistribution measures: those who own expensive properties — particularly investors holding multiple units — should contribute more to Singapore’s fiscal coffers. Most HDB owner-occupiers were deliberately shielded by the zero-rate band on the first S$12,000 AV.
Worked Example: Property Tax Across Three Buyer Profiles
Case Study: The Chens — Three Properties, Three Tax Bills
Property A — HDB 4-room flat, Tampines (Owner-Occupied)
AV: S$10,800. Tax: 0% × S$10,800 = S$0. After 15% HDB rebate: still S$0. Property tax is not a meaningful cost for HDB owner-occupiers in 2026.
Property B — 2-bedroom condo, Pasir Ris OCR (Rented out at S$2,600/month)
AV: Approximately S$31,200 (IRAS uses comparable rental of S$2,600/mth × 12 = S$31,200).
Non-OO tax: 12% × S$30,000 + 20% × S$1,200 = S$3,600 + S$240 = S$3,840/year.
Effective rate: 12.3% of AV. Annual rental income: S$31,200. Tax as % of gross rent: 12.3%.
Property C — 3-bedroom condo, Orchard CCR (Owner-Occupied, not rented)
AV: S$78,000 (comparable CCR 3BR rental ~S$6,500/mth).
OO tax: S$0 × S$12k + 4% × S$28k + 6% × S$10k + 10% × S$25k + 14% × S$3k
= S$0 + S$1,120 + S$600 + S$2,500 + S$420 = S$4,640/year.
After 10% private rebate (capped S$500): S$4,640 − S$464 = S$4,176.
If not owner-occupied: 12% × S$30k + 20% × S$15k + 28% × S$15k + 36% × S$18k = S$3,600 + S$3,000 + S$4,200 + S$6,480 = S$17,280/year — a S$13,104 annual difference, underscoring the significant benefit of the owner-occupier status.
How to Check, Appeal, and Pay Your Property Tax
Checking your AV: Log in to myTax.iras.gov.sg with Singpass and navigate to “View Property Summary”. This shows your current AV, the tax payable, and the last AV revision date. The service is free.
Appealing your AV: If you believe your AV is too high, you may file an objection with IRAS within 30 days of the Valuation Notice date. Submit evidence of comparable rentals (signed tenancy agreements for similar units in the same block or nearby) via the IRAS Object to Annual Value digital service. IRAS will review and notify you of its decision. If still dissatisfied, you may appeal to the Valuation Review Board (VRB) — an independent tribunal — within 30 days of IRAS’s written decision.
Paying your bill: Payment is due by 31 January each year. IRAS offers GIRO (monthly GIRO instalments spread across the year), PayNow, AXS, SAM, internet banking, and cheque. Paying by GIRO avoids the lump-sum January payment. Late payment attracts a 5% penalty on the unpaid amount, plus additional 1% per month thereafter.
What Property Tax Means for Investors and Landlords
For Buy-to-Let investors, property tax is a deductible expense against rental income for income tax purposes. An investor owning a condo earning S$36,000/year in rent and paying S$6,600 in property tax can deduct the S$6,600 against the S$36,000 gross rental income before computing individual income tax liability, alongside other allowable expenses (mortgage interest, maintenance fees, repairs, and agent commission).
However, the sharp non-OO rate increases since 2023 have meaningfully compressed net rental yields. An OCR condo with AV S$28,000 generating S$28,000 gross rent now pays S$3,360 property tax (non-OO) — that’s 12% of gross rent consumed immediately, before mortgage, maintenance, and vacancy. Gross yields of 4–5% compress further once property tax is factored in.
International comparison: Singapore’s property tax regime is more aggressive than Hong Kong’s (which charges a flat 15% on net rental income) but less heavy than the UK’s (where stamp duty surcharges and income tax rates can exceed 50% of rental income for higher-rate taxpayers). The ABSD and high non-OO property tax together signal that Singapore intends to keep the residential market primarily owner-occupier.
What Might Come Next
The government has signalled that the 2025 rates are the “final tranche” of the three-stage increase announced in 2022. No further rate hikes are publicly planned as at June 2026. However, Annual Values are reviewed continuously — if rental markets soften materially (as they did slightly in early 2026 with URA’s private rental index dipping -1.2% QoQ in Q1 2026), IRAS may lower AVs, which would reduce tax bills. Conversely, if rents rise, AVs follow.
The one-off 2026 rebate for HDB and private owner-occupiers is not guaranteed to recur in 2027 — it was explicitly framed as a cost-of-living support measure tied to the Singapore Budget. Owners should plan their finances on the full pre-rebate rate as a conservative baseline.
Frequently Asked Questions
If I live in my HDB flat, do I really pay zero property tax?
Yes, in most cases. HDB flats have Annual Values between S$6,600 (2-room) and S$14,400 (5-room executive). The owner-occupier rate is 0% on the first S$12,000 of AV. A 5-room flat with AV S$13,200 attracts 4% on S$1,200 = just S$48/year. After the 15% HDB rebate in 2026, the bill reduces to approximately S$41. For a standard 4-room flat with AV S$10,500, the tax is genuinely S$0.
I own two properties — can I get the owner-occupier rate on both?
No. The owner-occupier rate may only be applied to one property at a time — the one you actually reside in as your principal place of residence. Your second property will be taxed at the non-owner-occupier rate regardless of whether it is rented out or left vacant. You should notify IRAS which property is your principal residence via the “Apply for Owner-Occupier Tax Rates” service at myTax.iras.gov.sg.
How is Annual Value determined for a brand-new development with no rental history?
For newly completed developments, IRAS references rental transactions from comparable properties in the same area. If the building itself has no rental history, IRAS looks at similar-size units in nearby developments of comparable age, location, and facilities. The AV is typically set conservatively for the first year and revised once actual rental data is available. Developers of new launches do not pay property tax during construction; the tax liability begins from the date the Temporary Occupation Permit (TOP) is issued.
My tenant is paying rent. Can I deduct the property tax from my rental income for income tax purposes?
Yes. Property tax paid on a rental property is a deductible expense under Section 14 of the Income Tax Act. You deduct the actual property tax paid during the year from your gross rental income when computing your net rental income assessable for personal income tax. You may also deduct mortgage interest (on the portion attributable to the rental property), maintenance and management fees, fire insurance premiums, and cost of repairs — but not capital improvements. Keep IRAS payment receipts as documentation.
I have just sold my property mid-year — do I still owe property tax for the full year?
Property tax is a liability of the owner at the start of each calendar year (1 January). If you sell mid-year, the buyer and seller conventionally apportion the property tax on a pro-rata daily basis as part of the completion accounts, managed by the conveyancing lawyers. IRAS does not issue a partial-year bill — the annual bill remains in the seller’s name until the property is transferred. After completion, IRAS updates the ownership record and future bills go to the buyer. The apportionment in the completion accounts is a private contractual matter between buyer and seller.
Does ABSD or SSD affect my property tax?
No. ABSD (Additional Buyer’s Stamp Duty) and SSD (Seller’s Stamp Duty) are one-time transactional taxes applied at purchase or sale. Property tax is a separate recurring annual obligation based on the Annual Value of the property. ABSD and SSD do not count as property tax, and the payment of one does not affect the other. However, owning multiple properties increases your aggregate property tax burden since each additional property (typically non-owner-occupied) attracts the higher non-OO rate of 12%–36%.
What happens if I miss the 31 January property tax deadline?
IRAS imposes an immediate 5% late payment penalty on the unpaid amount. If the tax remains unpaid after the penalty notice, an additional 1% per month is charged. Persistent non-payment can lead to IRAS registering a charge on your property title, garnishing your bank account, or taking legal action. If you anticipate difficulty paying, contact IRAS before the due date to arrange an instalment plan — IRAS is generally flexible with genuine hardship cases, especially if you contact them proactively before the deadline.
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Disclaimer
This article is for general informational purposes only and does not constitute tax, legal, or financial advice. Property tax rates, Annual Values, rebate arrangements, and IRAS administrative procedures are subject to change by the Singapore government at any time. Readers should verify current rates directly with the IRAS Property Tax portal and consult a licensed tax advisor or property lawyer for guidance specific to their circumstances. IRAS may be contacted at 1800-356-8300 (toll-free) or via the Ask Jamie chatbot at myTax.iras.gov.sg.
