Singapore Property Tax in 2016

In spite of pitching itself as one of the richest cities of the South East Asian countries, Singapore is reportedly losing on its potential investors following a steep increase of its property tax. At present, Singapore’s property sales tax is equating to 23.2% to 22.4% of property prices, which is reportedly the highest of all and the experts says that the recent tax inflation is the result of increased stamp duty being imposed on the foreigners.

Property Tax 2016

As a city with increased convenience quotient, Singapore has always been the referred home for the expatriates across the world. Over the past few years, the property costs showed a steep rise, which triggered sheer discontent among the property occupants. The simmering discontent, thus slowdown the momentum of the posh living and convenient lifestyle in the city. Moreover, the government policies to a great extent and the levies exorbitantly charged have somewhat repelled the buyers’.

From the experts’ point of view, this is sure sign of splashed economy, but without taking necessary measures, a steep rise of the tax won’t help much. It’s just a few year back, the exponential rise of the property market sale, led the builders to approach the investors. But, at this point of time, when the government is not taking any sincere step to check the growing percentage of tax, the investors are mostly refraining from owning property in Singapore. Some new property developer are providing home and commercial space at low tax such as Stars of Kovan in Singapore.

Similar Articles

Assessing Your Assessemen... Fair to say,  if you are living in New Jersey, you are probably paying more property taxes than you should. The National Taxpayers Union, in fact, estimates
Appeals May Cost Resident...   New Jersey may tighten property tax cap Full story: Asbury Park Press Online Just two towns have ballot questions before voters today looking to exceed the
Washinton Township Appeal... Washington Township officials are planning to have a revaluation of township properties performed due to a large number of tax appeals, but the work will not be
15 NJ Towns With Highest ... From Millburn Patch: The 15 NJ Towns With The Highest Property Taxes. Posted by Tom Troncone (Editor) , October 26, 2013 at 08:47 PM. Comment Recommend. Loading…
Tax Bill Appeals Take Ris... By Jack Healy Published: July 4, 2009 Homeowners across the country are challenging their property tax bills in droves as the value of their homes drop, threatening
Westfield Realtor Offers ...   From PR News: In 2012, according to the Department of Treasury’s Division of Taxation, more than 90,000 residential tax appeals were filed in New Jersey —
Montclair reassessment wi... BY LINDA MOSS All Montclair property owners can expect their property tax assessments to change following a reassessment that’s now in progress, some more than others, the
Should You Represent Your...   While presenting tax appeal seminars over the past several years, I am repeatedly asked the question of whether someone needs an attorney to file a tax
Reducing New Jersey’... The possibility of reducing property taxes by consolidating the 565 municipalities of New Jersey was called into question in a recent study conducted by the Rutgers University’s
Fairlawn Tax Appeals Trig... From The Fair Lawn Patch: To combat the dramatic increase in the number of tax appeals being lost by the borough in recent years, a reassessment, which