The HDB Annual Price will be the approximated gross once-a-year hire a home could command if it ended up rented out, excluding furniture, furnishings, and upkeep expenses. This benefit, based on the Inland Revenue Authority of Singapore (IRAS), is a crucial Consider calculating the yearly residence tax and isn't based on the flat's industry sale price tag. IRAS assessments the Once-a-year Price of all properties each year, bearing in mind the marketplace rentals of comparable or similar Houses during the vicinity, along with the home's dimension, area, and issue. The best way the Yearly Worth is determined remains exactly the same regardless of whether the flat is owner-occupied, vacant, or rented out. Property tax is then calculated by multiplying the Once-a-year Benefit because of the prevailing tax amount, which happens to be progressive and may differ appreciably involving proprietor-occupied and non-owner-occupied properties. For operator-occupied HDB flats, tax premiums are considerably decrease to motivate residence more info ownership.