To determine the property tax for a 3-bedder unit at Twin Vew condominium, you need to know the Annual Value (AV) of the property. The AV is the estimated yearly rent if the property were to be rented out.
Here’s a general approach to estimate the property tax:
1. Find the Annual Value (AV):
You can check the property details on EdgeProp or contact the Inland Revenue Authority of Singapore (IRAS) for the specific AV of the unit.
2. Apply the Non-Owner-Occupied Tax Rates:
For non-owner-occupied residential properties, the tax rates are as follows:
- First $30,000: 12%
- Next $15,000: 20%
- Next $15,000: 28%
- Above $60,000: 36%
If, for example, the AV of the 3-bedder unit at Twin Vew is $120,000, here’s how you would calculate the property tax:
- First $30,000: 12% = $3,600
- Next $15,000: 20% = $3,000
- Next $15,000: 28% = $4,200
- Remaining $60,000: 36% = $21,600
Adding these amounts together:
- $3,600 + $3,000 + $4,200 + $21,600 = $32,400
So, if the AV is $120,000, the property tax for a non-owner-occupied 3-bedder unit at Twin Vew condominium would be approximately $32,400 per year.
For an accurate calculation, you should obtain the specific Annual Value of the unit from reliable sources such as EdgeProp or IRAS.
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