http://www.straitstimes.com/PrimeNew...ry_493550.html
Feb 23, 2010
Property Owners: Lower tax for most
MOST home owners will pay less property tax after a new property tax system is implemented this year.
All Housing Board flat owners and the bulk of private property owners will save $240 a year in tax with the new three-tier system.
The savings will result from the first $6,000 of a home's annual value (AV) now being exempt from tax. The next $59,000 of the AV will be taxed at 4 per cent, and any remaining value above $65,000 will be taxed at 6 per cent.
The AV is the estimated annual rent of an owner-occupied property if rented out instead.