From 2023 to 2024, the government will increase the marginal tax rates for non-owner-occupied residential properties and for owner-occupied residential properties. The rates are illustrated below:
Annual value
Effective January 1, 2023 (%)
Effective January 1, 2024 (%)
First S$8,000
0
0
Next S$22,000
4
4
Next S$10,000
5
6
Next S$15,000
7
10
Next S$15,000
10
14
Next S$15,000
14
20
Next S$15,000
18
26
Above S$100,000
23
32
Annual Value (S)
Effective 1 Jan 2023
Property Tax Payable ($)
Effective 1 Jan 2024
Property Tax Payable ($)
First 8,000
0%
0
0%
0
Next 22,000
4%
880
4%
880
First 30,000
–
880
–
880
Next 10,000
5%
500
6%
600
First 40,000
–
1,380
–
1,480
Next 15,000
7%
1,050
10%
1,500
First 55,000
–
2,430
–
2,980
Next 15,000
10%
1,500
14%
2,100
First 70,000
–
3,930
–
5,080
Next 15,000
14%
2,100
20%
3,000
First 85,000
–
6,030
–
8,080
Next 15,000
18%
2,700
26%
3,900
First $100,000
–
–
Above 100,000
23%
8,730
32%
11,980
Non owner occupied residential tax rates in Singapore
