Friday, December 2, 2011

PAP does an inverse Robin hood again: Property tax to rise

CNA reported. Most owners will have to pay more in property tax for their HDB flats in 2012.

Taking 2010 and 2011 together, market rents have risen by around 20%-28%. Accordingly, the annual values of all HDB flats will be revised from 1 January 2012.

In Singapore, property tax is calculated base on rent. If you have a small house with a football field size garden, you may pay a lower property tax than a HDB dweller if your living space is smaller.

The middle class got another hit again.

If PAP wants monies, they should get it from the rich. They can get more than they need by taxing just merely 1% of land value instead. 

1 comment:

Anonymous said...

Should have started taxing all these property owners more since long ago. Nowadays the HDB flats are getting so expensive that the young cannot afford to catch up and buy. We should ban HDB owners from renting their flats for profits!