[AMK SAGA] Use IRAS Annual Value to calculate Remaining Lease

item2sell

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
 

item2sell

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This is a formula that is transparent. Everyone pays property TAX.

This will keep a check on the GOV on anyhow increasing Property Annual Value.

Everyone knows their HDB value and no need to come out with new rules.

If HDB is unhappy, can tell us what is their formula.
 

harbinger255

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You do realize annual value for most homes is based on comparable rentals right....? So is a case of sinkie pwn sinkie really...

Then owner occupied rates different from that flat rate lah.... So unless you're talking about an investment property...
 

theMKR

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
so many ppl noob.

ppty tax is calc from rental value leh
 

item2sell

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You do realize annual value for most homes is based on comparable rentals right....? So is a case of sinkie pwn sinkie really...

Then owner occupied rates different from that flat rate lah.... So unless you're talking about an investment property...

owner pay 4%

landlord pay 10%
 

chaosinkie32

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
Moi just pcced to tis
 

Arshavin2015

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
I also share this during the coffeeshop drinking session with other bbfa uncles and ah gong.

We pay property tax bases on that. But when come to compensation, another kind of calculation. Government always win

The compensation should be
A new BTO flat with 99 lease and the property tax x 49 years of remaining lease.

All the old ppl got short change
 

harbinger255

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owner pay 4%

landlord pay 10%
It's a tiered system.... You can go google it.

As for what you want on transparent formula.... It's not as opaque as you think but it's also not as transparent as you wish. Bulk of the latter stems from valuation methods...

IRAS actually do get some court cases to argue about the valuation of properties... But mostly from commercial entities... :o
 

jim889

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
left hand not talkign to right hand..

also

can use coe method to calcuate the depreciation

just divide bto price by 99

:D
 

pegaki

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Those amk ave 3 sers are 43yr, lease left 56yr , and mainly 3 and 4 room, only a few 5 room units
I checked the recent 4rm transacted price at amk ave3 was only $450k
So 450k / 56yr = $8k/yr
I believe this is close to the annual value of amk ave 3 4rm flat, maybe about 8 to 9k/yr
Base on annual value 9k, valuation is
500k
The reason why transacted price for ave3 4rm is lower only 450k could be no demand, buyers maybe attracted to newer units nearer to mrt more
 
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matrix05

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You do realize annual value for most homes is based on comparable rentals right....? So is a case of sinkie pwn sinkie really...

Then owner occupied rates different from that flat rate lah.... So unless you're talking about an investment property...
Exactly, the AV is 1 mth rental. Meaning you rent 12 mth, Gov take 1 mth, pty agent take 0.5 mth.
 

UptheToon

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Ya. There must be a fair and transparent process on lease value calculation.
 

wwenze

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The proper way of calculation of the remaining lease should be to use the PROPERTY ANNUAL VALUE X by the remaining years.

THE AMK residents should fight back using this argument.

If AMK Area Annual Value is $15000, then 50 years compensation should be $750000.

The ******* IRAS is inflating the Area Prices, and asking residents to pay for inflated property taxes. (Next year you are going to pay 12% of annual value).
Yet HDB is scamming the residents about remaining lease.
They are contradicting each other
You're trying to use law, consistency and logic.

It doesn't work against (cannot mention who)
 
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