The HDB Yearly Worth is the approximated gross yearly hire a property could command if it have been rented out, excluding home furnishings, furnishings, and maintenance costs. This price, based on the Inland Earnings Authority of Singapore (IRAS), is an important factor in calculating the annual home tax and is not based upon the flat's sector sale cost. IRAS evaluations the Yearly Worth of all Homes per year, taking into account the market rentals of comparable or equivalent properties in the vicinity, in addition to the house's measurement, spot, and affliction. How the Yearly Price is set stays the identical regardless of whether the flat is owner-occupied, vacant, or rented out. Property tax is then calculated by multiplying the Once-a-year Benefit because of the prevailing hdb annual value 140 26 tax amount, which happens to be progressive and may differ drastically amongst proprietor-occupied and non-owner-occupied properties. For operator-occupied HDB flats, tax premiums are considerably reduced to inspire home possession.