{"id":80612,"date":"2024-11-30T00:47:37","date_gmt":"2024-11-29T16:47:37","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=80612"},"modified":"2024-11-30T14:10:37","modified_gmt":"2024-11-30T06:10:37","slug":"one-off-property-tax-rebate-2025","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/one-off-property-tax-rebate-2025\/","title":{"rendered":"One-off property tax rebate and revised AV bands in 2025"},"content":{"rendered":"
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The year 2025 is set to bring changes to Singapore\u2019s property tax system, offering much-needed relief to homeowners amid rising living costs. If you own a residential property, you\u2019ll be glad to hear about a one-off property tax rebate and adjusted annual value (AV)<\/a> bands that aim to make property taxes more manageable. These changes will benefit owners of both public and private residential properties, ensuring greater support for many households.<\/span><\/p>\n

One-off property tax rebate for 2025<\/b><\/h3>\n

You\u2019ll be receiving a property tax rebate in 2025 if you\u2019re an owner-occupier.For Housing and Development Board (HDB) flats, the rebate will amount to 20% of your payable tax. Meanwhile, private residential property owners will enjoy a 15% rebate, although this will be capped at S$1,000.<\/a><\/span><\/p>\n

This rebate has been designed to ease the strain of rising living expenses. You don\u2019t have to apply for it, as the rebate will automatically be applied to your property tax bill. Whether you own an HDB flat or a private property, this initiative aims to reduce the financial burden on households.<\/span><\/p>\n

Revisions to Annual Value (AV) bands<\/b><\/h3>\n

Changes to the annual value (AV) bands for property tax 2025 Singapore will come into effect on Jan 1, 2025. These adjustments will ensure that many homeowners pay lower or the same property tax rates \u2013 provided their properties\u2019 AVs remain unchanged.<\/span><\/p>\n

Here\u2019s how the revisions will affect you:<\/span><\/p>\n

    \n
  • Over one million residential properties are expected to benefit from these changes.<\/span><\/li>\n
  • All HDB flats and over 90% of private residential properties will see reduced tax rates.<\/span><\/li>\n<\/ul>\n

    Here’s a breakdown of the revised owner-occupier residential tax rates and their corresponding annual value portions for 2024 and 2025:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
    Owner-occupier residential tax rates<\/b><\/td>\nPortion of Annual Value\u00a0<\/b><\/td>\n<\/tr>\n
    (1 Jan 2024 to 31 Dec 2024)<\/b><\/td>\n(From 1 Jan 2025)<\/b><\/td>\n<\/tr>\n
    0%<\/b><\/td>\nS$0 – S$8,000<\/span><\/td>\nS$0 – S$12,000<\/span><\/td>\n<\/tr>\n
    4%<\/b><\/td>\n>S$8,000 – S$30,000<\/span><\/td>\n>S$12,000 – S$40,000<\/span><\/td>\n<\/tr>\n
    6%<\/b><\/td>\n>S$30,000 – S$40,000<\/span><\/td>\n>S$40,000 – S$50,000<\/span><\/td>\n<\/tr>\n
    10%<\/b><\/td>\n>$40,000 – $55,000<\/span><\/td>\n>S$50,000 – S$75,000<\/span><\/td>\n<\/tr>\n
    14%<\/b><\/td>\n>S$55,000 – S$70,000<\/span><\/td>\n>S$75,000 – S$85,000<\/span><\/td>\n<\/tr>\n
    20%<\/b><\/td>\n>S$70,000 – S$85,000<\/span><\/td>\n>S$85,000 – S$100,000<\/span><\/td>\n<\/tr>\n
    26%<\/b><\/td>\n>S$85,000 – S$100,000<\/span><\/td>\n>S$100,000 – S$140,000<\/span><\/td>\n<\/tr>\n
    32%<\/b><\/td>\n>S$100,000<\/span><\/td>\n>S$140,000<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    Data source: MOF<\/em><\/p>\n

    Changes to Social Support Scheme Eligibility<\/b><\/h3>\n

    The revised AV bands will also expand access to social support schemes. These programmes provide benefits based on your property\u2019s AV.<\/span><\/p>\n

    Currently, the AV tiers are structured as follows:<\/span><\/p>\n

      \n
    • Tier 1: Up to S$21,000.<\/span><\/li>\n
    • Tier 2: More than S$21,000 and up to S$25,000.<\/span><\/li>\n<\/ul>\n

      From Jan 1, 2025, the Tier 2 threshold will be expanded to include properties with AVs of more than S$21,000 and up to S$31,000. The Tier 1 threshold will remain unchanged.<\/span><\/p>\n

      This change means more households, including those in lower-value private properties, will qualify for additional support. In fact, over three in four residential properties will be eligible for these benefits.<\/span><\/p>\n