Property tax

Tribunal highlights the importance of finality, saying the company should not be allowed to ‘cherry-pick’

While inequality data has revived calls for wealth taxes, the government remains focused on immovable assets

The measure is expected to affect only a small fraction of total transactions

But Governor Kathy Hochul hasn’t budged on her refusal to raise levies on corporations and wealthy residents

With a clearer – and less flattering – picture of income and wealth inequality, the discussion can shift to what should be done

Hiking property tax rates relatively palatable; consider concessions if rates rise 

Other proposals floated include further tweaks to developers’ sales deadlines, lower consent threshold for en bloc sales

Owners of one and two-room HDB flats will still be exempted from property tax

The government has proposed higher business rates, or commercial property taxes, on sites with a rateable value of over £500,000