The HDB Yearly Benefit will be the approximated gross annual lease a residence could command if it were rented out, excluding household furniture, furnishings, and routine maintenance charges. This price, based on the Inland Earnings Authority of Singapore (IRAS), is a crucial factor in calculating the annual house tax and isn't dependant on the flat's marketplace sale price tag. IRAS opinions the Once-a-year Price of all properties each year, bearing in mind the industry rentals of comparable or hdb annual value 140 26 similar Houses during the vicinity, along with the home's dimension, area, and issue. How the Yearly Price is set stays precisely the same regardless of whether the flat is proprietor-occupied, vacant, or rented out. Home tax is then calculated by multiplying the Annual Value from the prevailing tax price, that is progressive and varies considerably between operator-occupied and non-operator-occupied Houses. For proprietor-occupied HDB flats, tax charges are substantially lower to encourage home possession.