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% |
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 |
|---|---|---|
| - | Effective 1 January 2023 | Effective 1 January 2024 |
| First S$30,000 | 11% | 12% |
| Next S$15,000 | 16% | 20% |
| Next S$15,000 | 21% | 28% |
| Above S$60,000 | 27% | 36% |
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