The HDB Once-a-year Benefit would be the believed gross annual rent a residence could command if it were rented out, excluding home furniture, furnishings, and routine maintenance fees. This worth, based on the Inland Profits Authority of Singapore (IRAS), is an important Think about calculating the annual home tax and is not determined by the flat's sector sale price. IRAS evaluations the Yearly Worth of all Homes per year, taking into account the market rentals of similar or comparable properties within the vicinity, plus the house's dimensions, more info 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 Annual Benefit via the prevailing tax level, which happens to be progressive and may differ appreciably involving proprietor-occupied and non-owner-occupied properties. For operator-occupied HDB flats, tax fees are considerably decrease to motivate residence ownership.