Budget 2024: Property tax changes welcomed to ease homeowners’ tax burdens
Lowest threshold for AV bands raised to S$12,000 from S$8,000
Highest AV band raised to over S$140,000 from S$100,000
PPHS (Open Market) Voucher to be offered for one year to help eligible families waiting for Build-To-Order flats to rent HDB units
CHANGES to property tax bands announced in the Budget will help ease next year’s tax burden for many homeowners who saw their bills swell unexpectedly this year.
Property annual value (AV) bands for owner-occupied residential properties in Singapore will be revised upwards from Jan 1, 2025. As a result, homeowners can expect to pay the same or lower property tax bills, assuming no change in their properties’ AV and before any rebate.
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