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Quick Guide: How to Calculate Property Tax for HDB Flats and Condos [updated 2022]

When I received my property tax statement a few days ago, I was shocked that the amount I am required to pay is higher than the past few years.

I am certain that I am not the only one who feels that way; that is because the Inland Revenue Authority of Singapore (IRAS) has revised the annual value (AV) of HDB flats in line with the increase in residential property rental rates.

AV is an estimated amount that an owner can potentially receive in a year if the property was to be rented out.

According to IRAS, the calculation of AV of a property is based on the current market rates for rental of comparable properties, and according to the IRAS, the last revision of AV of HDB flats was in 2017.

With effect from January 2022, the AV of properties will be revised upwards by 4 to 6%, depending on the flat type.

If you are an owner-occupier, not renting out your unit, you will pay a tax rate of between 0% to 16%, which is a lower tax rate than those not occupied by the owners.

While most HDB flats owners are expected to pay a higher property tax, those living in 1 and 2 room units and some 3 room HDB flats will continue to not pay any tax.

Private property owners will also see their AV go up and will also have to pay higher property taxes.

Please see the below table for the full tax rates for owner-occupied properties.

Source: IRAS

Now we look at 2 examples of how much property tax is payable.

Example 1 - For a property with an AV of $36,000, the property tax payable is $1,120.

Source: IRAS

Example 2 - For a property with an AV of $84,000, the property tax payable is $3,900.

Source: IRAS

For non owner-occupied properties, the property tax rate is between 10% to 20%.

Below is the table for the full tax rates for non owner-occupied properties.

Source: IRAS

IRAS Digital Services

If you are unsure of how much is the AV of your property, you can use the “view property dashboard” on the IRAS website.

Source: IRAS - User Guide for Individual Taxpayers

For easy calculation on property tax payable, you can use the IRAS interactive property tax calculator here.

How to Pay Your Property Tax

Property tax must be paid by 31st Jan 2022 and IRAS has made it very convenient with several payment modes, making it quick and easy.

You will need to have your property tax reference number ready when making payment by digital mode.

Payment modes available include PayNow QR, internet banking using POSB/DBS/OCBC/UOB, GIRO, AXS machine or mobile app and SingPost’s SAM machine or web. Find out more here.

For property owners who may have difficulty making the payments, you may approach the IRAS @1800-3568300 for assistance before 31 January 2022.

Remember to pay the property tax by 31st January or you may end up with a late payment penalty!


For more property news, resources and useful content like this article, check out blog here.

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