Most residential properties to incur higher tax from Jan 1, 2023, offset by one-off tax rebate of up to S$60
Most homeowners of Housing and Development Board (HDB) flats and private properties will pay higher property taxes from Jan 1.
To mitigate the higher tax, the Government will provide a one-off 60 per cent property tax rebate for all owner-occupied properties, up to a cap of S$60.
All owner-occupiers of one- and two-room HDB flats will continue to pay no property tax.
After taking the rebate into account, most owner-occupiers in other HDB flat types will pay between S$30 and S$70 more in property tax in 2023.
The rebate will be automatically offset against any property tax payable in 2023.