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Understanding property tax obligations is an important part of planning your purchase at Skye at Holland. Whether you are buying for your own stay or as an investment, knowing how Skye at Holland property tax system works – and what to expect in terms of yearly payments – ensures there are no surprises after you collect your keys.
In this guide, we will break down Skye at Holland property tax estimate for this year. Keep reading to learn more!
Table of Contents
Overview of Singapore Property Tax System
Singapore’s property tax is a yearly tax levied by the Inland Revenue Authority of Singapore (IRAS) based on the Annual Value (AV) of your property. The AV is IRAS’s estimate of the gross annual rental income your property could fetch if rented out, excluding furnishings and maintenance fees.
Key points:
- Property tax is not based on the purchase price or market value.
- AV is determined by comparing similar properties in the vicinity.
- Rates differ depending on whether the property is owner-occupied or non-owner-occupied (rented out or vacant).
- All property owners – citizens, PRs, and foreigners – must pay property tax.
Skye at Holland – Project Summary for Tax Calculation
Before estimating, let’s recap the key facts for Skye at Holland:
| Attribute | Details |
|---|---|
| Project Name | Skye at Holland |
| Type | 99-year leasehold condominium |
| Developer | CapitaLand, UOL, Singapore Land Group & Kheng Leong |
| Location | 2–6 Holland Drive, District 10 |
| Units | 666 units, 2 towers, 40 storeys |
| TOP | 2030 |
| Nearest MRT | Holland Village MRT (380m) |
| Unit Sizes | 2-Bedroom (581 sqft) to 5-Bedroom Suite (1,765 sqft) |
| Price Range (2025 est.) | $2,700–$2,800 PSF |
These details matter because AV benchmarks are influenced by location (Holland Village commands premium rental rates), unit size, and property type.
Annual Value (AV) Benchmarks for Holland Village
As of 2025, based on IRAS rental data for comparable condominiums in Holland Village such as One Holland Village Residences and Leedon Green, AV estimates are as follows:
| Unit Size | Avg. Monthly Rent (Market Rate) | Annual Value (AV) |
|---|---|---|
| 2-Bedroom (581–678 sqft) | $5,200 – $5,800 | $62,400 – $69,600 |
| 3-Bedroom (915–1,076 sqft) | $7,000 – $7,800 | $84,000 – $93,600 |
| 4-Bedroom (1,238–1,464 sqft) | $9,500 – $10,500 | $114,000 – $126,000 |
| 5-Bedroom Suite (1,765 sqft) | $12,000 – $13,500 | $144,000 – $162,000 |
Note: These AV estimates assume market rents in 2025 and are updated by IRAS annually based on rental trends.
Property Tax Rates in Singapore (2025)
IRAS applies a progressive tax rate for both owner-occupied and non-owner-occupied residential properties.
Owner-Occupied Rates (2025)
| Annual Value Tier | Tax Rate |
|---|---|
| First $8,000 | 0% |
| Next $22,000 | 4% |
| Next $10,000 | 5% |
| Next $15,000 | 6% |
| Next $15,000 | 7% |
| Next $15,000 | 8% |
| Next $15,000 | 9% |
| Above $100,000 | 10% |
Non-Owner-Occupied Rates (2025)
| Annual Value Tier | Tax Rate |
|---|---|
| First $30,000 | 12% |
| Next $15,000 | 20% |
| Next $15,000 | 28% |
| Above $60,000 | 36% |
Estimated Skye at Holland Property Tax
Let’s calculate sample property tax for both owner-occupied and non-owner-occupied scenarios.
Example A – 2-Bedroom Owner-Occupied (AV: $66,000)
- First $8,000 @ 0% = $0
- Next $22,000 @ 4% = $880
- Next $10,000 @ 5% = $500
- Next $15,000 @ 6% = $900
- Next $11,000 @ 7% = $770
Total = $3,050/year
Example B – 2-Bedroom Rented Out (AV: $66,000)
- First $30,000 @ 12% = $3,600
- Next $15,000 @ 20% = $3,000
- Next $15,000 @ 28% = $4,200
- Above $60,000 ($6,000) @ 36% = $2,160
Total = $12,960/year
Example C – 4-Bedroom Owner-Occupied (AV: $120,000)
- First $8,000 @ 0% = $0
- Next $22,000 @ 4% = $880
- Next $10,000 @ 5% = $500
- Next $15,000 @ 6% = $900
- Next $15,000 @ 7% = $1,050
- Next $15,000 @ 8% = $1,200
- Next $15,000 @ 9% = $1,350
- Above $100,000 ($20,000) @ 10% = $2,000
Total = $7,880/year
Example D – 4-Bedroom Rented Out (AV: $120,000)
- First $30,000 @ 12% = $3,600
- Next $15,000 @ 20% = $3,000
- Next $15,000 @ 28% = $4,200
- Above $60,000 ($60,000) @ 36% = $21,600
Total = $32,400/year
How Rental Income Affects Your Property Tax
- Owner-occupied: Lower rates apply only if you live in the unit.
- Rented out: Higher rates apply from the day the tenancy starts.
- If you rent out for part of the year, tax is pro-rated.
- Declaring accurate rental periods is essential to avoid penalties.
Exemptions, Rebates & Reliefs
IRAS occasionally grants rebates, such as during COVID-19 in 2020–2021. These are not guaranteed. There are no exemptions for private residential properties except:
- Vacant Landed Properties under redevelopment (temporary).
- Government-announced reliefs (case-by-case).
Payment Process & Deadlines
- IRAS issues the property tax bill in December for the following year.
- Payment deadline: 31 January.
- Methods: GIRO (monthly or yearly), PayNow, AXS, internet banking.
- Late payment penalty: 5% of unpaid tax, increasing monthly if unresolved.
Practical Tips for Skye at Holland Buyers
- Budget early: Include property tax in your annual housing cost.
- Track AV changes: IRAS may revise AV yearly based on market rents.
- Consider living in: If possible, owner-occupation saves thousands yearly.
- Plan tenancy dates: Avoid unnecessary non-owner-occupied periods.
Final Word
Buying at Skye at Holland is not just about purchase price and maintenance fees – property tax is an ongoing obligation that varies greatly depending on how you use your unit.
With Holland Village commanding high AVs due to premium rental demand, your tax bill can range widely – from around $3,000/year for a 2-bedroom you live in, to over $32,000/year for a 4-bedroom investment unit.
By understanding Singapore’s property tax structure, you can plan ahead and optimise your costs.
Contact us today for a personalised Skye at Holland property tailored to your unit type, purchase price, and intended use.
Disclaimer: This information is for general reference only and does not constitute investment or legal advice. Property details including pricing, availability, and regulations are subject to change without notice, and prospective buyers should conduct independent due diligence and consult with CEA-licensed property agents, solicitors, and other qualified professionals before making any property decisions. The principle of caveat emptor (buyer beware) applies to all Singapore property transactions.
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