Higher property tax for most 3-room HDB flats, all bigger units from Jan 1, 2022: Iras

[kobayashiGT]

SINGAPORE — Most people living in three-room flats, and all of those in larger flats, will pay higher property tax next year following a revision of annual values of Housing and Development Board (HDB) flats.

The Inland Revenue Authority of Singapore (Iras) said in a press release on Wednesday (Dec 1) that it will revise the annual values of HDB flats upwards by 4 per cent to 6 per cent on Jan 1 next year.

The annual value is the estimated annual rent of the property if it were to be leased. It is determined based on the market rents of comparable properties.

The revision will be in line with the increase in market rentals and is part of its annual review of properties to compute the property tax payable, Iras said.

The property tax payable is derived by multiplying the property tax rate with the annual value of the property.

With the revision:

•     About 65 per cent of the owner-occupiers of three-room flats will pay between S$8.80 and S$14.40 yearly in additional property tax
•     Owner-occupiers of four-room, five-room and executive flats will pay between S$21.60 and S$26.40 more yearly
•     One-third of three-room flat owner-occupiers will continue to pay no property tax
•     All one-room and two-room flat owner-occupiers will continue to pay no property tax
   

The annual value was last revised in 2017.

“However, with the rising market rents of HDB flats this year, the annual values of all HDB flats will need to be revised upwards from Jan 1, 2022,” Iras said.

Private residential property owners will also see an increase in their annual values next year, it added.

The hike in property tax came a day after the National Environment Agency announced that it will increase the fees for refuse collection for public and private homeowners who use the public waste collection scheme. The fees will be raised by 16.7 per cent monthly.

Iras said that all property owners will receive their property tax bill by the end of this month and it reminded property owners that the bills must be paid by Jan 31 next year.

Property owners who face financial difficulties may approach Iras for assistance on a suitable payment plan before Jan 31.

They may appeal for a longer payment plan via the Apply for Payment Plan e-Service at myTax Portal website, or contact Iras on its hotline at 1800 356 8300.

Read more at https://www.todayonline.com/singapore/higher-property-tax-most-3-room-hdb-flats-all-bigger-flats-jan-1-2022-iras

 

[Mustank]

Not unexpected 

[Silverkris]

Never understood this tax. It is taxed assuming that you have leased out your flat and therefore imposed a tax on your "income", but HDB restricts us in leasing out our unit during MOP. 

[Nolicense]

ccb pap

[Enye]

wah...i jin sad, must pay more

any more chicken wing to take from them to offset this increase?

😞

[Kklim]

40 minutes ago, Mustank said:

Not unexpected 

Ya. Plough back what was spent on Covid

[Stary]

The increase is just like the cost of one family meal for the entire year,  I think most people will not even bat an eyelid.

[Babyckh]

Next will be town council conservancy fee. Song song gao jurong. 😀 

[Hamburger]

Drumstick coming. We asked for it. 

[Beregond]

transport fee up

utility bill up

Higher property tax

When gst increase coming??

Actually we should be more happy when gov dun give us free money. Once u receive free money, u know its coming liao😅

 

[Kar_lover]

2 hours ago, Silverkris said:

Never understood this tax. It is taxed assuming that you have leased out your flat and therefore imposed a tax on your "income", but HDB restricts us in leasing out our unit during MOP. 

It is how it estimates the VALUE of the property, whether you can actually rent out or not is a different matter... can't be during MOP cannot rent out then the property no value right? 

[Nolicense]

15 minutes ago, Beregond said:

transport fee up

utility bill up

Higher property tax

When gst increase coming??

Actually we should be more happy when gov dun give us free money. Once u receive free money, u know its coming liao😅

 

cant help it... overall it is socialist a little bit. suppose to give a few hundred more to the poorer 20-50%? and end up collect extra few hundred from everyone.

so the bottom half no up or down. the top half down a few hundred. but for the top 1-10% is really tickle the balls..

[Beregond]

5 minutes ago, Nolicense said:

cant help it... overall it is socialist a little bit. suppose to give a few hundred more to the poorer 20-50%? and end up collect extra few hundred from everyone.

so the bottom half no up or down. the top half down a few hundred. but for the top 1-10% is really tickle the balls..

if what they do really collect  money from the rich and give to the poor, i dun really mind.

collect alot from the top 10% and give to the btm 30%

but i feel the middle class is being leech and will feel the pain instead. the top 10% wont feel anything

[kobayashiGT]

55 minutes ago, Babyckh said:

Next will be town council conservancy fee. Song song gao jurong. 😀 

Haha.no need to next. Is up le. 🤣

https://blog.seedly.sg/service-and-conservancy-charges-refuse-collection-fees

[Kopites]

https://www.straitstimes.com/singapore/housing/household-refuse-collection-fees-go-up-from-jan-1-as-operational-manpower-costs

Household refuse collection fees will go up from Jan 1 next year, in tandem with higher operational and manpower costs.

The cost is $9.63 per month – up by $1.38 from $8.25 currently – for households in apartments which include Housing Board flats and condominiums which have not opted out of the public waste collection scheme.

Those in landed properties will pay $32.07 monthly, up $4.60 from $27.47, said the National Environment Agency (NEA) on Tuesday (Nov 30).

😁

Edited December 2, 2021 by Kopites

[13177]

42 minutes ago, Beregond said:

transport fee up

utility bill up

Higher property tax

When gst increase coming??

Actually we should be more happy when gov dun give us free money. Once u receive free money, u know its coming liao😅

 

Refuse collection fees also up.

[Lethalstrike]

CCB PAP. Even for 2/3 of the 3-room flats?! 

[Loki]

55 minutes ago, Nolicense said:

cant help it... overall it is socialist a little bit. suppose to give a few hundred more to the poorer 20-50%? and end up collect extra few hundred from everyone.

so the bottom half no up or down. the top half down a few hundred. but for the top 1-10% is really tickle the balls..

They should increase property tax for non-owner occupied private properties, and the increase should be exponentially greater based on value of the property