What Does It Mean?
Annual Value (AV)
Annual Value (AV) is the estimated gross annual rent a property can reasonably command if it were rented out, as assessed by IRAS. AV is used to determine property tax payable and is reviewed annually.
Property Tax Rate
Property tax rates in Singapore are progressive and vary by occupancy: owner-occupied residential rates range from 0% to 32%, while non-owner-occupied rates range from 12% to 36% of AV.
Current Rates
Owner-Occupied Residential Rates (2024):
| AV Band | Rate |
|---|---|
| First $8,000 | 0% |
| Next $22,000 | 4% |
| Next $10,000 | 6% |
| Next $15,000 | 10% |
| Next $15,000 | 14% |
| Next $15,000 | 20% |
| Next $15,000 | 26% |
| Above $100,000 | 32% |
Non-Owner-Occupied Residential Rates:
| AV Band | Rate |
|---|---|
| First $30,000 | 12% |
| Next $15,000 | 20% |
| Next $15,000 | 28% |
| Above $60,000 | 36% |
Worked Example
A condo with AV of $36,000 (estimated annual rent of $3,000/month):
Non-owner-occupied properties pay significantly more property tax. This is a major cost for investment properties.
Why It Matters
Property tax is the single largest recurring cost for investment properties. A non-owner-occupied condo with AV of $36,000 pays about $5,500/year — this directly reduces your net rental yield.
Where to Find This on ShiokNest
Look for the tooltip icon next to this metric on ShiokNest for a quick reminder of its definition.
Official Sources
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Frequently Asked Questions
How is AV determined?
Can I appeal my AV assessment?
This glossary article is auto-generated from ShiokNest's financial data and updated periodically. Rates and figures are current as of March 2026. Check official sources for the latest.