HDB property tax to rise in 2012

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The rise in the market value of HDB flats could lead to a higher property tax next year, according to The Straits Times.

However, most HDB flat owners may bear only a marginal increase, after a government rebate was introduced for lower- and middle-income households.

A one-time rebate of S$55 will act as partial compensation for the increased tax. This rebate is not applicable to flats which are not owner-occupied.

The announcement was made by the Inland Revenue Authority of Singapore (IRAS) last Friday, as the annual values (AVs) of HDB flats are to be amended in 2012, reflecting the increase in market values.

It added that all owner-occupiers of one- and two-room HDB flats will continue to pay zero property tax next year, while those in three-room flats will pay the same amount as the previous year.

Owners of four- to five-room flats will each pay an increase of S$5 to S$29 for the year.

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