Property Tax Singapore for Condo Owners: 2026 Rates, Annual Value and New Launches

Property tax in Singapore is a yearly tax on owning property, whether you live in it, rent it out or leave it empty. For condo owners the bill depends on two things: the unit’s Annual Value, and whether the owner lives there. This guide gives the current IRAS rates, explains Annual Value in plain terms, and walks through when tax starts on a new launch such as LinkTown Residences (Hougang Central Residences), the condo planned above Hougang MRT (NE14) and the new Hougang bus interchange.

The formula

Property tax = Annual Value (AV) × the tax rates that apply to you.

Both residential rate tables are progressive. The first slice of AV is taxed lightly, and each higher slice at a higher rate, so a unit with a larger AV pays more in total and a higher share of its AV.

Owner-occupier rates (from 1 January 2025)

These apply if you own the unit and live in it.

Annual Value slice	Rate	Cumulative tax at top of slice
First S$12,000	0%	S$0
Next S$28,000 (to S$40,000)	4%	S$1,120
Next S$10,000 (to S$50,000)	6%	S$1,720
Next S$25,000 (to S$75,000)	10%	S$4,220
Next S$10,000 (to S$85,000)	14%	S$5,620
Next S$15,000 (to S$100,000)	20%	S$8,620
Next S$40,000 (to S$140,000)	26%	S$19,020
Above S$140,000	32%	on the remainder

Non-owner-occupier residential rates (from 1 January 2024)

These apply if you rent out the whole unit, leave it vacant, or someone other than the owner lives there.

Annual Value slice	Rate	Cumulative tax at top of slice
First S$30,000	12%	S$3,600
Next S$15,000 (to S$45,000)	20%	S$6,600
Next S$15,000 (to S$60,000)	28%	S$10,800
Above S$60,000	36%	on the remainder

Source: IRAS property tax rates. For 2026 only, IRAS is also giving owner-occupied private homes a one-off rebate of 10%, capped at S$500, offset automatically against the bill.

What Annual Value means

Annual Value is not your purchase price. IRAS defines it as the estimated gross annual rent the property could fetch if it were let, excluding furniture, furnishings and maintenance fees. It is based on rents of similar or comparable units nearby, taking into account size, location, condition and other features. It is not the rent you actually charge.

• AV is set the same way whether you live there, let it or leave it empty.
• IRAS reviews AVs yearly. If market rents move, your AV and tax can move with them, and you receive a Valuation Notice when it changes.
• You can check your AV online in myTax Portal, and object within the stated time if you have evidence it is wrong. URA publishes private rental data you can compare against.

Details are on the IRAS Annual Value page.

Who gets owner-occupier rates

• You must own and live in the home. An individual, or a married couple, gets the concession on one home only, even if the couple lives in two.
• Renting out part of your home while you still live there keeps you eligible, according to IRAS. This matters for owners of a dual key condo who let the studio.
• Renting out the whole unit, leaving it vacant, or holding it through a company or trust means non-owner-occupier rates.
• If you move from one home to another, the concession moves with you: it stops on the old home from the date it starts on the new one.

When property tax starts on a new launch

During construction, you pay nothing in property tax on your unit. The liability starts at TOP. IRAS’s guidance for newly constructed homes:

1. Taxed from the TOP date. Newly completed properties are assessed from TOP, even if you collect keys later.
2. First bill within 6 to 12 months. It is generally issued once the assessment is finalised, and can cover the period back to TOP.
3. TOP to key collection. Because property tax is a charge on the property, the bill comes to you, and your lawyer normally seeks reimbursement from the developer for the period before you took possession.
4. Owner-occupier rates. IRAS’s acknowledgement notice tells you if they have been applied. If another home you own already has them, apply for the concession once you move in.
5. Payment. Pay within one month of the notice, and after that, yearly bills are due by 31 January. GIRO spreads payment over up to 12 interest-free instalments.

For Hougang Central Residences, completion is currently expected around 2030/2031, so the first bill would arrive after that. The exact TOP date has not been announced. The purchase timeline shows where TOP sits among the other milestones.

Worked example: what the bill could look like

Take the indicative 2-bedroom of 678 sq ft (sizes based on the developers’ recent project Parktown Residence, not LinkTown’s final plans). At analysts’ estimates of S$2,500–2,600 psf it would cost roughly S$1,695,000 to S$1,762,800. None of that price enters the property tax sum. What matters is the AV:

Hypothetical AV	You live there	Whole unit rented out
S$40,000	S$1,120	S$5,600
S$50,000	S$1,720	S$8,000
S$60,000	S$2,720	S$10,800

How the S$50,000 row works. Owner-occupier: first S$12,000 at 0%, next S$28,000 at 4% (S$1,120), next S$10,000 at 6% (S$600), total S$1,720. Non-owner-occupier: first S$30,000 at 12% (S$3,600), next S$15,000 at 20% (S$3,000), next S$5,000 at 28% (S$1,400), total S$8,000.

The gap is the point. On the same unit, letting it out could mean several times the tax of living in it. Investors should use the non-owner-occupier figure when working out net yield, and remember rental income is taxed separately under income tax. Our look at LinkTown Residences rental potential covers the demand side, and each lease also carries stamp duty on the tenancy agreement.

Stamp duty is the other tax you meet as a buyer, paid once at purchase; our stamp duty guide covers it.

Register to get LinkTown Residences floor plans and the TOP date as soon as they’re released.

Frequently asked questions

How is property tax calculated in Singapore?

Annual Value multiplied by the progressive rates that apply to you. Owner-occupier rates are lower; non-owner-occupier residential rates apply if you rent out the whole unit or leave it vacant.

When do I start paying property tax on a new launch condo?

From the date of TOP, not from booking. IRAS says the first bill for a newly completed property is generally issued within 6 to 12 months of the transfer, and can cover the period back to TOP.

Is Annual Value the same as my rent?

No. It is IRAS’s estimate of the gross annual rent the unit could fetch, excluding furniture, furnishings and maintenance fees, based on comparable rentals rather than the rent you actually receive.

Can I rent out a room and keep owner-occupier rates?

IRAS says that if you let out part of your home while still living in it, you remain eligible for owner-occupier rates. Renting out the whole unit means non-owner-occupier rates.

When is property tax due?

Bills for the year are due by 31 January. GIRO lets you spread payment over up to 12 interest-free monthly instalments.