The Annual Value of a Punggol flat or condominium is IRAS’s estimated yearly rental value, excluding furniture, furnishings and maintenance fees. It is based on comparable market rentals rather than the home’s purchase price or the rent an individual owner actually receives.

Property owners can check their own property’s current Annual Value free through myTax Portal. Use your official property record instead of a nearby listing or a neighbourhood average when you need the figure for a form.

Annual Value is a basis for property tax, with the relevant tax rates applied to it. It is not the tax amount itself. A value shown in dollars therefore needs to be read with its label, year and effective date.

Separate the figures on your paperwork

Keep three labels distinct: purchase price, Annual Value and property tax payable. They describe different things even though all appear as dollar amounts.

When helping a parent complete a household application, read the field wording together. Copy the requested figure from the relevant record rather than whichever amount is easiest to find.

Back to contents · Next: Check the official property record

Check the official property record

Log in to myTax Portal and use the property information service linked from IRAS’s Annual Value guidance. Confirm the correct address, particularly if you own more than one property.

Record when you checked the figure. A dated note is more useful than an unlabelled screenshot if you return to the application weeks later.

Back to contents · Next: Understand why the figure can change

Understand why the figure can change

IRAS reviews Annual Values yearly against comparable market rents. It also considers factors such as location, size, condition and physical attributes; a valuation notice states an adjustment and its effective date.

A neighbour’s figure can be a prompt to ask a question, but it should not replace your own assessment record. Check the details of your property before deciding that two figures ought to match.

Back to contents · Next: Prepare a precise question for IRAS

Prepare a precise question for IRAS

If the record and a notice seem different, identify both dates and the exact entries. IRAS notes that a changed Annual Value is reflected in the digital service from its effective date.

If you want a valuation reviewed, follow the official objection guidance linked on the Annual Value page. Keep the notice and relevant comparison information together so your enquiry addresses the assessment clearly.

Back to contents · Next: Official sources

Official sources

Information checked on 11 October 2026. Use the current official instructions and your own tax record when completing a transaction.

IRAS: Annual Value explained · IRAS: owners can check their own AV free