General Changes

Property Tax for Owner-Occupied Residential Properties

Current Since 1 January 2015, owner-occupied residential properties have been taxed at a concessionary progressive property tax rate schedule as follows:

Annual Value Property Tax Rate for Owner-Occupied Residential Properties
First S$8,000 0%
Next S$47,000 4%
Next S$15,000 6%
Next S$15,000 8%
Next S$15,000 10%
Next S$15,000 12%
Next S$15,000 14%
Above S$130,000 16%

Proposed The progressive property tax rates for owner-occupied residential properties will be revised for the portion of annual value in excess of S$30,000. This change will be phased in over two years as shown below.

Annual Value Property Tax Rate for Owner-Occupied Residential Properties Property Tax Rate for Owner-Occupied Residential Properties
- Effective 1 January 2023 Effective 1 January 2024
First S$8,000 0% 0%
Next S$22,000 4% 4%
Next S$10,000 5% 6%
Next S$15,000 7% 10%
Next S$15,000 10% 14%
Next S$15,000 14% 20%
Next S$15,000 18% 26%
Above S$100,000 23% 32%

Property Tax for Non-Owner-Occupied Residential Properties

Current Since 1 January 2015, non-owner-occupied residential properties have been taxed at a progressive property tax rate schedule as follows:

Annual Value Property Tax Rate for Non-Owner-Occupied Residential Properties
First S$30,000 10%
Next S$15,000 12%
Next S$15,000 14%
Next S$15,000 16%
Next S$15,000 18%
Above S$90,000 20%

Proposed The progressive property tax rate schedule for non-owner-occupied residential properties will be revised. This change will be phased in over two years as shown below.

Annual Value Property Tax Rate for Non-Owner-Occupied Residential Properties Property Tax Rate for Non-Owner-Occupied Residential Properties