The HDB Yearly Price may be the believed gross annual rent a residence could command if it were rented out, excluding household furniture, furnishings, and routine maintenance charges. This worth, 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 value. IRAS opinions the Once-a-year Price of all properties each year, bearing click here in mind the industry rentals of comparable or equivalent Attributes in the vicinity, in addition to the house's measurement, spot, and affliction. Just how the Once-a-year Price is set stays the exact same irrespective of whether the flat is proprietor-occupied, vacant, or rented out. House tax is then calculated by multiplying the Yearly Worth from the prevailing tax charge, which can be progressive and differs substantially among owner-occupied and non-operator-occupied Attributes. For proprietor-occupied HDB flats, tax costs are considerably reduced to inspire house possession.