Property tax Levy is S'pore's primary means of taxing wealth
The Straits Times|September 16, 2024
We thank Mr Tan Ah Heng for his feedback (Have a fairer way to collect tax from owner-occupied properties, Sept 10).
Farah Abdul Rahim

Property tax (PT) is our primary means of taxing wealth in Singapore. It is a tax on property ownership and is imposed regardless of whether the property is rented out, owner-occupied or left vacant.

PT is computed based on the annual values (AVS) of residential properties assessed using rental transactions of comparable properties. If PT is not levied based on AV, the alternative is to levy PT based on a property's capital value using transacted prices of comparable properties.

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