The HDB Yearly Worth is the approximated gross yearly hire a property could command if it have been rented out, excluding furniture, furnishings, and maintenance costs. This price, based on the Inland Earnings Authority of Singapore (IRAS), is a crucial factor in calculating the annual house tax and isn't dependant on the flat's market sale value. IRAS testimonials the Once-a-year Price of all Attributes annually, considering the market rentals of similar or comparable Qualities inside the vicinity, together with the assets's sizing, locale, and condition. The way the Once-a-year Benefit is decided continues to be the exact same irrespective of whether the flat is proprietor-occupied, vacant, or rented out. House tax is get more info then calculated by multiplying the Yearly Value from the prevailing tax price, that is progressive and varies significantly between operator-occupied and non-proprietor-occupied Homes. For owner-occupied HDB flats, tax rates are significantly decreased to really encourage property ownership.