Property tax is levied annually on the annual value of houses, land, buildings, or tenements.

For residential properties, owner-occupier tax rates range from 0% to 32% and non-owner occupier tax rates range from 12% to 36%. The tax rates depend on the annual value bands, which are subject to periodic revisions. 

A one-off property tax rebate at tiered rates of 15% (capped at SGD 1,000 for private properties) to 100%, depending on the type of property, is provided for owner-occupied residential properties in 2024.

For non-residential properties, such as commercial and industrial buildings and land, the tax rate is 10%.