My property is old, needs repairs, and is not in perfect condition. I have not done any renovation works since I first moved in many years ago. Will IRAS peg my AV at a higher level based on the rents of the newer and bigger properties in my estate?

Question

Accepted Answer

While we consider the prevailing market rents of comparable properties in the locality, do rest assured that we will make appropriate adjustments and take into account the subject property’s unique characteristics and actual physical condition in determining its AV assessment.

My property is old, needs repairs, and is not in perfect condition. I have not done any renovation works since I first moved in many years ago. Will IRAS peg my AV at a higher level based on the rents of the newer and bigger properties in my estate?

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