The HDB Annual Benefit could be the estimated gross yearly lease a assets could command if it had been rented out, excluding household furniture, furnishings, and routine maintenance charges. This worth, determined by the Inland Profits Authority of Singapore (IRAS), is an important Think about calculating the annual home tax and is not determined by the flat's sector sale price. IRAS evaluations the Yearly Worth of all Houses per year, taking into account the market rentals of similar or comparable properties within the vicinity, plus the residence's dimensions, site, and ailment. Just how the Once-a-year Benefit is set stays precisely the same irrespective of whether the flat is proprietor-occupied, vacant, or rented out. Home tax is then calculated by multiplying the read more Annual Value by the prevailing tax rate, which is progressive and may differ noticeably concerning operator-occupied and non-proprietor-occupied Qualities. For owner-occupied HDB flats, tax fees are significantly decreased to stimulate property ownership.