HDB property tax to rise next year
HDB owners will pay about $40 to $50 more in property tax on their flats next year, as the market rents their properties can command have risen in the past 12 months.
This is after a $40 rebate on property tax that the Government is giving to all owner-occupied flats. The rebate is to mitigate the impact of the tax increase on middle- and lower-income households, said a statement from the Inland Revenue Authority of Singapore on Tuesday.
Since Jan 1 this year, market rentals of HDB flats have risen by 8 to 13 per cent. This boosts the annual value of the flats, which in turn pushes up the amount of property tax payable on the flat.
There is no tax on flats, like one and two-room flats, whose annual values are below $6,000.