Key Insight

This report analyzes property tax rates in Singapore from 2003 to 2024, revealing a consistent upward trend in tax rates for both owner-occupied and non-owner-occupied residential properties. Non-residential property tax rates remained consistent at 10% throughout the period. For owner-occupied properties, tax rates increased gradually from a 0% rate for low annual values to significantly higher rates for properties with higher annual values. Non-owner-occupied residential properties show similar trends, with steeper increases in tax rates for higher annual value brackets. These trends indicate a potential shift in tax policy towards higher annual value properties.

Small Interesting Points of Note

The data shows significant changes in the banding and rates of property taxes over time. Note that 'na' values for annual values were present in early years for certain property types which limits conclusions that can be drawn before 2011. The tax rates for owner-occupied properties increased more significantly in 2023 and 2024 compared to previous years.
There is a noticeable lack of data on annual values before 2011 for certain property types.

Methodology

• Data was obtained from the provided JSON API response from data.gov.sg.
• Data was cleaned to remove 'na' values, these values were not included in the analysis.
• The analysis focused on the tax rates associated with different annual value brackets for both owner-occupied and non-owner-occupied residential properties.
• Trends were identified by observing changes in tax rates across different years for each property type and annual value bracket.
• No specific statistical measures were used beyond the observation of rates themselves.

Footnotes

¹Some datasets had headers that contained superscript values (e.g., '20112'). The superscript values were ignored in the analysis.