The HDB Annual Value is definitely the estimated gross yearly lease a assets could command if it had been rented out, excluding household furniture, furnishings, and maintenance charges. This worth, based on the Inland Profits Authority of Singapore (IRAS), is an important Think about calculating the annual home tax and is not determined by the flat's sector sale price. IRAS evaluations the Yearly Worth of all Houses per year, taking into account the market rentals of similar or comparable properties within the vicinity, plus the house's dimensions, site, and affliction. Just how the Once-a-year Price is set stays precisely the same regardless of whether the flat is owner-occupied, vacant, or rented out. Home tax is then calculated by multiplying the Annual here Benefit via the prevailing tax rate, which is progressive and may differ noticeably concerning proprietor-occupied and non-proprietor-occupied Qualities. For owner-occupied HDB flats, tax fees are significantly decrease to stimulate residence ownership.