IRAS's estimate of your property's gross annual rental, used to compute property tax. Owner-occupied properties enjoy concessionary rates that scale with AV.
Annual Value (AV) is IRAS's estimated gross annual rental that your property could fetch — used as the basis for property tax assessment. It's set by IRAS, not by you.
Even if you live in your home and don't rent it out, IRAS still assigns an AV based on prevailing market rents for comparable properties in your area.
IRAS reviews AVs annually using comparable rental transactions, property characteristics (size, location, age, condition), and market conditions.
Owners receive notification of AV revisions; objections can be filed within 30 days if you believe the AV is too high.
AVs typically rise when rental markets are strong; they can also fall during downturns or for ageing properties.
Owner-occupied residential: progressive tax rates from 0% (first S$8,000 of AV) up to 32% (above S$100,000 of AV). Most HDB and average condo owners pay 0% – 6%.
Non-owner-occupied residential: 12% (first S$30,000) rising to 36% (above S$100,000). Investment properties pay materially more tax.
Commercial / industrial: flat 10% of AV.
Worked example: HDB 4-room flat AV S$11,000, owner-occupied. Tax = 4% × S$3,000 = S$120 / year. Same flat rented out at AV S$11,000: Tax = 12% × S$11,000 = S$1,320 / year.
Beyond property tax: AV is increasingly used to means-test government schemes. CDC vouchers, MediShield Life subsidies, and even Workfare are tiered by AV.
AV cutoffs: properties with AV below ~S$21,000 typically qualify for higher GST Voucher rates and additional support measures.
Mismatched AVs: if you bought in a previously cheaper area that's gentrified rapidly (Queenstown, Rochor, Tiong Bahru), your AV may have jumped — taking you above some support thresholds.
Check your AV: go to mytax.iras.gov.sg → Property → View Property Portfolio. AV changes affect both your tax bill and your eligibility for various government schemes.
IRAS's estimated annual market rental for your property, set independently of whether you actually rent it out. AV is the basis for property tax assessment. Even owner-occupied homes are assigned an AV based on comparable rental transactions.
IRAS reviews AVs annually using comparable rental transactions in the area, property characteristics (size, location, age, condition), and market conditions. AVs rise when rents strengthen; they can also fall during downturns or for ageing properties.
Yes — file an objection within 30 days of the AV revision notice if you believe it's set too high (and you have evidence of lower comparable rents). IRAS will review and adjust if warranted.
AV is increasingly used to means-test government schemes — CDC vouchers, MediShield Life subsidies, Workfare, GST Voucher tiers. Properties with AV above ~S$21,000 typically get reduced support. Check your AV via myTax Portal → Property → View Property Portfolio.