How to Find the Annual Value (AV) of a Property in Singapore

Annual value (AV) is IRAS’s estimate of the gross annual rent a property could earn if it were rented out, excluding furniture, furnishings, and maintenance fees. It is a tax benchmark, not a resale price or valuation figure. As of 2026, property tax is calculated as the annual value multiplied by the applicable rate, and it applies even if the home is owner-occupied or vacant; verify the current rates on IRAS.

A simple way to hold it: annual value is the rental estimate IRAS uses for tax, not what the unit sold for.

Here is the easiest way to separate the terms:

If you compare AV with the rent in a tenancy agreement, the figures can differ without either one being wrong. For example, a landlord may accept below-market rent for a stable long-term tenant, while IRAS’s AV remains based on its broader rental assessment of comparable properties. For a broader overview, see Singapore Property Tax and Ownership Costs: A Practical Guide.

Owners should start with IRAS because that is the most direct official source for their own property record. In practice, that usually means checking through IRAS myTax Portal or the owner services referenced on IRAS’s annual value page. Once you log in with Singpass, go to Property > View Property Summary: it shows your AV for the current year and up to the past four years (as at today's date), plus the tax rate applied, at no cost. If your AV changed after your January bill, the new figure appears there only from its effective date.

If you are checking a property you do not own, use IRAS’s route for real estate and housing agents to find out annual values. That is safer than relying on listing portals, WhatsApp screenshots, or someone’s memory of an old tax notice. The route is IRAS’s Check Annual Value of Property digital service: $2.50 per search (including GST, paid via AXS), covering the current year and up to the past five years. It does not tell you who legally owns the unit: IRAS’s owner records are for property tax only, and a search of the legal owner registered with the Land Titles Registry goes through the Singapore Land Authority (IRAS).

Practical takeaway: use a current IRAS record first, then verify the address and assessment period before drawing any conclusion about tax or holding costs. For the bigger picture once you have located the AV, see Singapore Property Tax and Ownership Costs: A Practical Guide. For a broader overview, see How to Check Your Property Tax Bill on IRAS.

Treat AV as the starting point for working out property tax, not the final tax bill. As of 2026, IRAS uses AV as the base figure and property tax is the annual value multiplied by the applicable rate, but the actual outcome still depends on the current rates and how the property is treated, such as owner-occupied or non-owner-occupied. Verify the current rates on IRAS.

A useful way to hold it: same AV does not always mean same tax bill.

For example, two homes could have the same AV, but their tax may differ if one is owner-occupied and the other is rented out, because owner-occupier and non-owner-occupier rates run on different schedules. That is why AV is useful for framing holding costs, but not enough on its own to fix a final number.

For a quick sense check: this is the IRAS annual value, which is the tax base, and the final tax amount still depends on the current rates and treatment. For the next step, see Owner-Occupier vs Non-Owner-Occupier Property Tax in Singapore and Property Tax When You Rent Out Your Flat or Condo.

IRAS's formula is: annual property tax = AV × the property tax rates that apply to you. Homes are taxed on a progressive scale; all other property pays a flat 10% of the AV (IRAS). On an AV of $36,000, IRAS's own examples give $960 a year at owner-occupier rates (before the one-off 2026 rebate for owner-occupied homes) and $4,800 at non-owner-occupier rates: the same AV, five times the bill.

Two rules decide which rates you are on. Owner-occupier rates apply to only one home per person or married couple, so a second home you also live in pays the higher rates. And letting out a room while you still live in the home keeps the lower rates. Your bill shows which applies ("Owner-Occupier Tax Rates" or "Non-owner-occupier Residential Tax Rates" under "AV and Tax Rates"), and so does View Property Summary. For the full rate bands and more worked examples, see how property tax is calculated in Singapore; for who qualifies for the lower rates, see owner-occupier vs non-owner-occupier property tax.

IRAS reviews the AV of properties yearly to reflect changes in the market rental values of comparable properties, and it also revises an AV from the date of any physical change that could materially affect the property's rental value (IRAS). Each change comes with a Valuation Notice stating the new AV and when it takes effect.

• Objecting: within 30 days from the date of the Valuation Notice, you can object to the AV and/or its effective date. If you never received a notice, you can still object at any time in the year if you can show that market values have dropped below your AV.
• What you can't object to: the tax rates themselves.
• Appealing: if IRAS disallows or only partly allows your objection, you can appeal to the Valuation Review Board within 30 days of IRAS's decision.
• Meanwhile: property tax is still payable while an objection or appeal is under way.

To judge whether an AV is fair, IRAS points owners to URA's rentals for private residential developments and HDB's rentals for HDB flats. Remember that the AV reflects market rent when IRAS reviewed it, so it can sit above or below a rent you agreed earlier.

Before you rely on any property tax estimate, verify four things:

• the source is an official IRAS record
• the address and unit are correct
• the assessment period or date shown is current
• the property’s tax treatment has not been assumed wrongly

This is where it is easiest to slip. An old screenshot shows an AV that looks reasonable, and the thinking moves too quickly into tax estimates. That is risky because the screenshot may be dated, from the wrong unit, or missing the context needed to tell whether the property is being treated as owner-occupied or not.

A safer approach: use it as a starting point, but match it against the live IRAS record before drawing a conclusion about the expected tax. If the next step is the actual tax bill, see How to Check Your Property Tax Bill on IRAS and the current IRAS property tax rates. Do not rely on any specific rate unless you have confirmed it against the current official source.

AV often surprises owners because it is an assessed rental estimate, not a live copy of the latest tenancy agreement. In practice, differences usually show up in a few common situations:

• the lease was signed in a different rental market
• the owner accepted below-market rent for speed or tenant stability
• you are looking at an older IRAS record or notice
• the property has unusual features that make comparisons less intuitive

Worth remembering: surprise does not equal error.

If the number looks too high or too low, do not jump straight to a conclusion. First confirm the current IRAS record and the correct assessment period. If the property is mixed-use, atypical, or otherwise hard to compare with standard homes, verify the assessment directly with IRAS before using the AV for any holding-cost decision.

Keep it factual and narrow. Annual value is IRAS’s rental-based estimate used for property tax, but as of 2026 the final tax amount is the annual value multiplied by the applicable rate, which depends on the current rates and the property’s status. Verify the current rates on IRAS.

A fair way to see it:

"Annual value gives a rough holding-cost sense check, but the exact property tax still needs to be confirmed against the current IRAS rules and how the property is treated."

This matters most when comparing scenarios, such as staying in the unit versus renting it out. In those cases, the key point is not just the AV. It is whether the tax treatment changes even if the AV does not. For that comparison, see Owner-Occupier vs Non-Owner-Occupier Property Tax in Singapore.

No. Annual value is IRAS’s estimate of the property’s gross annual rent for tax purposes, while rental income is the actual amount received under the tenancy agreement.

That difference matters in practice. A landlord may collect less than the AV-based estimate because they prioritised a fast lease or gave better terms to keep a reliable tenant. The reverse can also happen if the market moved after IRAS’s assessment. The takeaway is simple: use AV for property tax context, and use the lease for cash flow context. Do not swap one for the other.

Verified figures. Property-tax figures here come from IRAS — the definition of annual value as the estimated gross annual rent if the property were let (excluding furniture, furnishings and maintenance fees), and the rule that property tax is the annual value multiplied by the applicable rate and applies even when a home is owner-occupied or vacant — as of 2026; confirm the current bands/rules on IRAS before you rely on them.

Updated September 2026. The View Property Summary and Check Annual Value of Property details (the $2.50 fee and the four- and five-year look-backs), the yearly AV review and the objection and appeal rules are from IRAS's Annual Value and Find out Annual Values pages; the rate ranges and the $36,000 worked example are from IRAS's Property Tax Rates page. All were read on 19 September 2026.

What we have not claimed: the exact tax or fee for any specific property (check IRAS / your MCST); a market rate for maintenance/sinking-fund contributions (these vary by development); or a legal ruling — a practical explainer, not legal advice.