In Singapore, property tax is generally levied on property owners. This means that if you own a property in Singapore, you are liable to pay property tax. This tax is assessed on all types of properties, including residential, commercial, and industrial properties. The property tax is calculated based on the annual value of the property, which is determined by the Singapore government’s tax authorities.
It’s important to note that property tax is typically the responsibility of the property owner, regardless of whether the property is owner-occupied or rented out to tenants. In the case of rented properties, property owners often pass on the property tax burden to their tenants through the terms of the lease agreement.
The Singapore government periodically reviews and updates property tax rates and assessment procedures, so it’s advisable to check with the Inland Revenue Authority of Singapore (IRAS) or consult a tax professional for the most current information regarding property tax liabilities and rates.