What is the non-owner-occupied property tax amount for a 1.2m property that is 10 years old?

To determine the property tax amount for a non-owner-occupied residential property in Singapore, you need to know the Annual Value (AV) of the property, which is the estimated yearly rent if the property were to be rented out.

Non-Owner-Occupier Tax Rates (Effective 1 Jan 2024 to 31 Dec 2024)

Here are the tax rates and corresponding property tax payable for non-owner-occupied residential properties:

- First $30,000: 12% = $3,600
- Next $15,000: 20% = $3,000 (total: $6,600)
- Next $15,000: 28% = $4,200 (total: $10,800)
- Above $60,000: 36%

If the Annual Value (AV) of your 10-year-old property is $1.2 million, here’s how you can calculate the property tax:

1. First $30,000: 12% = $3,600
2. Next $15,000: 20% = $3,000
3. Next $15,000: 28% = $4,200
4. Remaining amount ($1,200,000 - $60,000): $1,140,000 at 36%

Calculating the tax for the remaining amount:
- $1,140,000 * 36% = $410,400

Adding all the components together:
- $3,600 + $3,000 + $4,200 + $410,400 = $421,200

So, the property tax amount for a non-owner-occupied residential property with an Annual Value of $1.2 million would be approximately $421,200 per year.