Property taxes on HDB flats to be lower in 2015

WITH the latest revisions in annual values of HDB flats, owners will pay less in property taxes next year.

Annual values, or the estimated annual market rent of a property, have been reduced by about 3 per cent in response to the weakening of the property market.

This, combined with more progressive taxes that kicked in this year, means HDB residents will save between S$42 and S$54 in taxes next year, compared to two years ago, said the Inland Revenue Authority of Singapore on Monday.