Annual Value of Property Singapore 2026: How to Check & Calculate
The annual value of property in Singapore is the estimated yearly rent a property could earn, as assessed by the Inland Revenue Authority of Singapore (IRAS). It applies even if you live in your own home or leave it vacant. Your property’s Annual Value (AV) affects how much property tax you pay. Here’s how the calculation works, where to check your AV, and what the 2026 tax rates mean for HDB and private homeowners.
TL;DR: Annual Value of Property at a Glance
- Meaning: Annual Value is the estimated gross yearly market rent of a property.
- Calculation: An estimated monthly rent of S$3,000 gives an illustrative AV of S$36,000.
- Checking AV: Property owners can view their AV through IRAS myTax Portal.
- Property tax: Owner-occupied and non-owner-occupied homes have different tax rates.
- 2026: Your assessed AV and applicable tax rates determine your property tax before any eligible rebates.
What Is the Annual Value of Property in Singapore?
The annual value of property Singapore homeowners see on their tax records represents the estimated gross rent their property could fetch over 12 months. IRAS determines this using rental evidence from comparable properties.
The assessment excludes the value of furniture, furnishings and maintenance fees. It isn’t based directly on how much you paid for your home or how much you could sell it for today.
For example, a four-room HDB flat in Tampines and a private condominium in Orchard may have different annual values because their rental markets, locations and property characteristics differ.
And your actual rental income? That doesn’t necessarily match the AV assessed by IRAS.
Does an Owner-Occupied Property Have an Annual Value?
Yes. Every residential property can have an assessed AV, including owner-occupied and vacant homes. Living in your own HDB flat doesn’t remove its Annual Value.
How Is Annual Value of Property Calculated?
To understand how to calculate annual value of property, start with the estimated monthly market rent.
Illustrative formula:
Annual Value = Estimated Monthly Market Rent × 12
Suppose comparable properties suggest your condo could rent for S$3,000 monthly. Its illustrative annual value would be:
S$3,000 × 12 = S$36,000
IRAS considers comparable rental transactions, property location, size, condition and other relevant characteristics. The simple formula explains the annual rental concept; it doesn’t replace an official IRAS assessment.
Annual Value Calculation Examples
| Estimated monthly market rent | Illustrative Annual Value |
|---|---|
| S$1,500 | S$18,000 |
| S$2,500 | S$30,000 |
| S$3,500 | S$42,000 |
| S$5,000 | S$60,000 |
These are hypothetical calculations, not official HDB or condominium valuations.
How to Check Annual Value of Property in Singapore
You can check the annual value of your property online through the IRAS myTax Portal. The process is fairly straightforward.
- Visit the official IRAS myTax Portal.
- Sign in using your Singpass credentials.
- Select the property tax service and open your property record.
- Find the Annual Value shown in your property details.
- Check the effective date to confirm which assessment applies.
If your AV has recently changed, review any Valuation Notice issued by IRAS. It should provide details about the revised assessment.
Is Checking Annual Value Free?
Checking your own property’s AV through myTax Portal is free. Searching for another property’s annual value generally involves a fee.
| IRAS lookup service | Fee |
|---|---|
| Check your own property’s AV | Free |
| Search another property’s AV | S$2.50 per search |
Fees and available services may change, so confirm the latest details with IRAS before making a paid search.
Annual Value of HDB Flats vs Condominiums
The annual value of an HDB flat is assessed using comparable market rental evidence, just like a private condominium or landed home.
But different properties attract different rental values.
Take a four-room HDB flat in Tampines. IRAS may consider rental transactions involving comparable flats in the surrounding area. For a private condo, factors such as location, unit size, condition and comparable private rental transactions can affect its assessed AV.
HDB vs Condo Annual Value Comparison
| Property type | Main valuation considerations |
|---|---|
| HDB flat | Comparable HDB rental transactions, location and flat characteristics |
| Private condominium | Comparable condo rentals, location, unit size and condition |
| Landed property | Comparable landed-home rentals, land and building characteristics |
A condo doesn’t automatically have a particular AV simply because it’s private property. The rental evidence matters more than the property label.
How Does Annual Value Affect Property Tax in 2026?
Your Annual Value forms the basis of your property tax calculation in Singapore. IRAS applies progressive tax rates, with different schedules for owner-occupied and non-owner-occupied residential properties.
Higher portions of AV fall into higher tax brackets. You don’t pay the highest applicable rate on your entire AV.
Owner-Occupied Property Tax Rates in 2026
| Annual Value band | Marginal tax rate |
|---|---|
| First S$12,000 | 0% |
| Next S$28,000 | 4% |
| Next S$10,000 | 6% |
| Next S$25,000 | 10% |
| Next S$10,000 | 14% |
| Next S$15,000 | 20% |
| Next S$40,000 | 26% |
| Above S$140,000 | 32% |
For example, an eligible owner-occupied home with an AV of S$36,000 has a basic annual property tax of S$960 before rebates.
The calculation is simple: the first S$12,000 is taxed at 0%, while the remaining S$24,000 falls within the 4% band.
What About Non-Owner-Occupied Properties?
Residential properties that don’t qualify for owner-occupier rates generally face higher progressive rates, ranging from 12% to 36%. This includes many rented-out homes.
For 2026, eligible owner-occupied HDB flats receive a 15% property tax rebate, while eligible owner-occupied private residential properties receive 10%, capped at S$500. The rebate is applied according to IRAS eligibility rules.
Why Does the Annual Value of Property Change?
Your property’s AV can increase or decrease when comparable market rents change.
For instance, stronger rental demand for HDB flats in a particular neighbourhood may influence future assessments. Property improvements, changes in physical characteristics and updated rental evidence may also affect valuation.
IRAS reviews annual values to reflect relevant rental market conditions. But an increase in your property’s selling price doesn’t automatically produce the same increase in AV.
And yes, your AV can change even when you haven’t rented out your home or made any renovations.
Can You Object to Your Property’s Annual Value?
Yes. If you believe IRAS has assessed your property incorrectly, you can submit an objection.
Start by reviewing your Valuation Notice and comparing your assessment with relevant rental evidence. Supporting details about your property’s size, condition or comparable rental transactions may be useful.
Objections generally need to be submitted within 30 days from the date of the Valuation Notice. Check the deadline stated in your notice and follow IRAS’s objection procedure.
Simply feeling that your property tax is too high isn’t, by itself, evidence that the assessed AV is incorrect.
Annual Value vs Market Value vs Rental Income
These three property terms sound related, but they describe different amounts.
| Term | What it means |
|---|---|
| Annual Value | Estimated yearly market rent assessed by IRAS |
| Market Value | Estimated price a property could sell for |
| Rental Income | Actual rent received from tenants |
A condo might have a market value of S$1 million and an assessed AV of S$36,000. Its owner could still receive a different amount in actual rent.
Property tax uses the assessed AV, not the property’s selling price.
Frequently Asked Questions
How do I check the annual value of my property in Singapore?
Sign in to IRAS myTax Portal using Singpass and open your property tax record. Your property’s assessed Annual Value and relevant assessment details should be available there.
What is the annual value of an HDB flat?
An HDB flat’s Annual Value depends on comparable market rentals, location and property characteristics. There isn’t one fixed AV for all three-room, four-room or five-room flats.
How often does IRAS update annual values?
IRAS reviews annual values periodically using relevant rental market evidence. Changes aren’t necessarily made every year for every property, and revised assessments may take effect on different dates.
Is annual value the same as market value?
No. Annual Value represents estimated yearly market rent, while market value refers to the property’s estimated selling price. They serve different purposes in Singapore’s property market.
Does a vacant property still have an annual value?
Yes. A vacant residential property still has an assessed Annual Value because IRAS considers its potential market rent, even when no tenant is occupying it.
Can I appeal my property’s annual value?
Yes. You can object to an IRAS assessment with relevant supporting evidence. Review your Valuation Notice and submit the objection within the applicable deadline.
Final Thoughts on Annual Value of Property in Singapore
Understanding the annual value of property makes Singapore property tax calculations much easier to follow. IRAS assesses AV using comparable market rentals, so HDB flats, condominiums and landed homes can have different values.
If you’re unsure about your assessment, check the latest figure through myTax Portal. A quick review of your AV, applicable tax rates and any eligible rebate can give you a clearer picture of what you’ll need to pay.
