The HDB Annual Worth is the approximated gross yearly hire a property could command if it have been rented out, excluding furniture, furnishings, and upkeep costs. This price, based on the Inland Earnings Authority of Singapore (IRAS), is a crucial factor in calculating the annual house tax and is not based upon the flat's market sale cost. IRAS testimonials the Yearly Worth of all Houses on a yearly basis, taking into account the market rentals of similar or comparable properties within the vicinity, plus the house's dimensions, site, and affliction. Just how the Once-a-year Price is set stays the identical regardless of whether the flat is owner-occupied, vacant, or rented out. Property tax is then calculated by multiplying the Once-a-year Benefit because of the prevailing tax level, which happens to hdb annual value 140 26 be progressive and may differ appreciably amongst proprietor-occupied and non-owner-occupied properties. For operator-occupied HDB flats, tax premiums are considerably reduced to inspire home possession.