The HDB Annual Value is definitely the approximated gross yearly hire a property could command if it have been rented out, excluding furniture, furnishings, and upkeep costs. This price, based on the Inland Revenue Authority of Singapore (IRAS), is a crucial Consider calculating the yearly residence tax and isn't dependant on the flat's marketplace sale price tag. IRAS opinions the Once-a-year Price of all Attributes yearly, taking into consideration the marketplace rentals of comparable or similar Houses from the more info vicinity, as well as the home's dimension, place, and problem. The best way the Annual Worth is determined remains the same regardless of whether the flat is operator-occupied, vacant, or rented out. Assets tax is then calculated by multiplying the Once-a-year Price with the prevailing tax fee, and that is progressive and differs substantially among owner-occupied and non-operator-occupied Attributes. For operator-occupied HDB flats, tax costs are considerably reduce to inspire home possession.