Singapore property tax is a yearly tax on a property's Annual Value (AV), IRAS's estimate of the rent it could earn. The rate depends on whether the owner lives in it. If you live in your home, the owner-occupier rates run from 0% to 32%. If you let it out or leave it empty, the non-owner-occupier rates run from 12% to 36%. Rental income tax is a different tax on the rent you actually receive. It is charged at your personal income tax rates, and you pay it on top of property tax.
Figures as at 10 October 2026. Check the official source before acting.
What Annual Value is
IRAS defines a property's Annual Value as the estimated gross yearly rent it would fetch if it were rented out. A few points follow from that:
- It is an estimate, not your actual rent. IRAS bases it on market rents of similar properties. Your AV can be higher or lower than the rent you collect.
- It leaves out furniture, furnishings and maintenance fees. It is the rent for the unit itself.
- It is reviewed every year. IRAS also revises it when a physical change affects the rental value, for example an extension. A change in AV comes with a Valuation Notice. You can object to it within 30 days of that notice.
- Expenses cannot be deducted. Mortgage interest, insurance and utilities do not reduce the AV.
Your AV is printed on your property tax bill and in the myTax Portal. It is the only figure the tax is worked out from. The price you paid, and any loan you took, do not count.
Owner-occupier rates (from 1 January 2025)
These rates apply to a home you own and live in. The tax is worked out in bands, like income tax: each slice of AV is taxed at its own rate.
| Annual Value band | Rate | Tax on the full band |
|---|---|---|
| First S$12,000 | 0% | S$0 |
| Next S$28,000 (to S$40,000) | 4% | S$1,120 |
| Next S$10,000 (to S$50,000) | 6% | S$600 |
| Next S$25,000 (to S$75,000) | 10% | S$2,500 |
| Next S$10,000 (to S$85,000) | 14% | S$1,400 |
| Next S$15,000 (to S$100,000) | 20% | S$3,000 |
| Next S$40,000 (to S$140,000) | 26% | S$10,400 |
| Above S$140,000 | 32% | — |
IRAS raised the AV bands on 1 January 2025; the rates stayed the same. In 2024 the 0% band covered only the first S$8,000, and the 32% band started above S$100,000. We found no change to the bands for 2026 on the IRAS rates page.
Non-owner-occupier rates (from 1 January 2024)
These rates apply to residential property that you do not live in. That includes a unit you let out, an empty unit, and a second home.
| Annual Value band | Rate | Tax on the full band |
|---|---|---|
| First S$30,000 | 12% | S$3,600 |
| Next S$15,000 (to S$45,000) | 20% | S$3,000 |
| Next S$15,000 (to S$60,000) | 28% | S$4,200 |
| Above S$60,000 | 36% | — |
The gap between the two schedules is large. On the same AV, a let-out unit can pay several times the tax an owner-occupied one would pay.
The 2026 one-off rebate
For 2026 only, the government gives owner-occupied homes a one-off rebate, offset automatically against the 2026 bill:
- HDB flats: 15% of the property tax.
- Private homes: 10%, capped at S$500.
Let-out and other non-owner-occupied properties get no rebate. IRAS also notes that owner-occupiers of 1- and 2-room HDB flats continue to pay no property tax.
Worked example 1: an owner-occupied home
Example (hypothetical): you live in a condo whose AV on the bill is S$30,000.
| Step | Amount |
|---|---|
| First S$12,000 at 0% | S$0 |
| Next S$18,000 at 4% | S$720 |
| Property tax for the year | S$720 |
| 2026 rebate (10%, cap S$500) | −S$72 |
| 2026 bill after rebate | S$648 |
Example (hypothetical): you live in an HDB flat with an AV of S$14,400. Tax = 4% × S$2,400 = S$96. The 2026 rebate of 15% takes off about S$14, leaving about S$82.
We worked out these figures with the same property tax engine and rate tables that PropAce's calculators use, dated 10 October 2026.
Worked example 2: the same kind of home, rented out
Example (hypothetical): you let out a condo whose AV is S$36,000. You do not live in it, so the non-owner-occupier rates apply.
| Step | Amount |
|---|---|
| First S$30,000 at 12% | S$3,600 |
| Next S$6,000 at 20% | S$1,200 |
| Property tax for the year | S$4,800 |
| 2026 rebate | none (not owner-occupied) |
On an AV of S$30,000, the owner-occupied home in example 1 pays S$720 a year. Let out, the same AV pays S$3,600, five times as much.
PropAce's rental yield calculator uses this schedule. If you do not enter your actual property tax, it estimates the AV as 12 × monthly rent × 0.8. At a rent of S$3,750 a month, that gives an AV of S$36,000 and S$4,800 of tax, as above. The 12 × 0.8 rule is PropAce's own rough proxy, not an IRAS method. For a real figure, enter the AV or tax from your IRAS bill.
Rental income tax is a separate tax
Property tax is charged on the AV whether or not you collect rent. Rental income tax is charged on the net rent you actually receive in the year. That net rent is added to your other income and taxed at your personal income tax rates.
IRAS lets you deduct expenses from rent in one of two ways:
- Actual expenses. These include mortgage interest on the loan used to buy the property, property tax, fire insurance, repairs that restore the unit, MCST charges, and the agent's commission for finding a tenant.
- Deemed expenses. For a residential property, a flat 15% of gross rent, plus your actual mortgage interest. IRAS pre-fills the 15% in your tax form. You cannot use both methods for the same year. If you let out more than one residential property, you must use the same method for all of them.
Some costs cannot be deducted under either method: loan principal, renovation, the cost of initial repairs, and new furniture.
Example (hypothetical): you collect S$45,000 of rent in a year and pay S$20,000 of mortgage interest, and you choose the deemed-expense method.
| Item | Amount |
|---|---|
| Gross rent | S$45,000 |
| Less 15% deemed expenses | −S$6,750 |
| Less mortgage interest | −S$20,000 |
| Net rental income added to your income | S$18,250 |
The S$4,800 of property tax in example 2 is still payable. Under the deemed method it is treated as covered by the 15%, so you do not deduct it separately.
Frequently asked questions
Does property tax depend on what I paid for the home?
No. It is based only on the Annual Value, IRAS's estimate of the yearly market rent. Two identical units bought at different prices have the same AV.
Can I get owner-occupier rates on two homes?
Owner-occupier rates apply to the home you actually live in. Any other residential property you own, including an empty one, is taxed at the non-owner-occupier rates. Check your own position on the IRAS website or the myTax Portal.
I rent out one room and live in the rest. Which rate applies?
IRAS says a home stays eligible for owner-occupier rates if you keep living in it while you let out part of it. The room rent is still taxable as income. If you use actual expenses, split them by the number of rooms you let out. If you let out the whole unit, the non-owner-occupier rates apply.
What if I think my Annual Value is too high?
You can object within 30 days of the Valuation Notice that shows the AV. Give evidence of rents for comparable units.
Is the 2026 rebate permanent?
No. It applies to the 2026 bill only, and only to owner-occupied homes.
Sources
- IRAS: property tax rates: owner-occupier bands from 1 January 2025 and for 2024; non-owner-occupier bands from 1 January 2024.
- IRAS: Annual Value: definition of AV, yearly review, the 30-day objection window.
- IRAS: one-off 2026 property tax rebate: 15% for HDB flats, 10% capped at S$500 for private homes; 1- and 2-room HDB owner-occupiers pay no property tax.
- IRAS: income from property rented out: deductible and non-deductible expenses; 15% deemed expenses plus mortgage interest.
- IRAS: renting out my property: owner-occupier rates continue if you let out part of a home you still live in.
- gov.sg: property tax on residential property: government explainer of the same rate tables.