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

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
if-you-cant-explain-simply-by-albert-einstein-quotes.png
Sigh.... I suppose this is how the current generation works... feed me all the information to convince me I'm wrong.

The 4 methods of valuation is not rocket science but neither is it an exact science, already supplied you with the keywords to google... Or don't and stay ignorant of how the real world works... just know that whichever choice you pick, the world doesn't wait and will not change for you.
 

item2sell

Arch-Supremacy Member
Joined
Oct 1, 2010
Messages
14,418
Reaction score
4,200
Sigh.... I suppose this is how the current generation works... feed me all the information to convince me I'm wrong.

The 4 methods of valuation is not rocket science but neither is it an exact science, already supplied you with the keywords to google... Or don't and stay ignorant of how the real world works... just know that whichever choice you pick, the world doesn't wait and will not change for you.

i just wan to waste more time from PAP on this LOL.

Nothing will change, but more will know how dirty white can be.
 

needsomeadvice

Arch-Supremacy Member
Joined
Mar 2, 2009
Messages
13,035
Reaction score
34,560
And finally, be careful what you ask for..... chances are the iras AV of your HDB is a lot lower than what you THINK it's worth... :s13:
for bbfa their (parents) hdb is everything hokay, they spended their lives in there :frown:
 

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
actually, i not keen. i just wan to see the PAP waste more time on this LOL.
It's not pap who is wasting time - don't mix up our poor civil service who has to rush about whenever a cock politician wanna talk without making an arse outta him/herself with... well... the cock politician.

This is the crux of why our opposition has such an uphill battle.... lack of legs, information and intel from civil service
 

muji4832

Supremacy Member
Joined
Mar 20, 2004
Messages
7,369
Reaction score
942
No need to calculate until so troublesome. As long as you are forcing me out of my comfort habitat, either you compensate me handsomely or give me a deal that I cannot reject. Else dun blame me for KPKB.
 

fascist

Arch-Supremacy Member
Joined
Mar 8, 2007
Messages
13,249
Reaction score
2,369
then why we pay property tax :(

my tenant also no pay property tax.
To give credence to ownership.

But really, even if some HDB residents are forced to move due to SERs (decree by govt), then it brings into question what is the value of ownership right?

I’m not talking about legal ownership. But what people ordinarily expect from ownership ie. flexibility in terms of choice.
 

jim889

Arch-Supremacy Member
Joined
Feb 19, 2022
Messages
13,540
Reaction score
5,774
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
outlier ?
:s11:
 

rathalos

High Supremacy Member
Joined
Nov 20, 2012
Messages
27,168
Reaction score
5,094
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 Farking 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
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.
So for example, using ur value for compensation of $750,000 for 50years, HDB should sell the replacement flat to these folks at the same formula, which would have the selling price pegged at $1,485,000..

Before you think about blasting this, you should be using apple to apple comparison of computing value of property instead of using one type for formula for A, and using another type of formula and data for B..
 

hardwaregone

Supremacy Member
Joined
May 9, 2011
Messages
8,295
Reaction score
567
And finally, be careful what you ask for..... chances are the iras AV of your HDB is a lot lower than what you THINK it's worth... :s13:
If AV really lower, then those grants that they give base on AV will be covering more people. As well as the property affiliated taxes will be reduced.

So by all means make it realistically lower. :o
 

Braun8

Senior Member
Joined
Mar 23, 2012
Messages
1,786
Reaction score
692
No need to calculate until so troublesome. As long as you are forcing me out of my comfort habitat, either you compensate me handsomely or give me a deal that I cannot reject. Else dun blame me for KPKB.

In 7 years, there will be a new cross island line MRT station very close to their homes. Through SERS, the govt is forcing them to move to another plot of land that will be a lot further away from the MRT.

The sole reason the govt is "giving" them SERS is because the land is very close to a new MRT station, the govt wants to take back the land and huat from it.

Can't blame the residents for KPKB, some residents probably prefer to live 50 yrs next to the MRT station (in their current bigger flat) than live 50 years in a new smaller flat far from the MRT, To them, it's a bad deal that was forced upon them.
 

item2sell

Arch-Supremacy Member
Joined
Oct 1, 2010
Messages
14,418
Reaction score
4,200
So for example, using ur value for compensation of $750,000 for 50years, HDB should sell the replacement flat to these folks at the same formula, which would have the selling price pegged at $1,485,000..

Before you think about blasting this, you should be using apple to apple comparison of computing value of property instead of using one type for formula for A, and using another type of formula and data for B..

I believe PAP is doing that. not Me.

I only have one information which I know. IRAS Property Tax.
In fact, the whole Singaporean HDB buyers know their property Tax.

Sounds like you have a "apple" formula to share.

Can tell us what is your formula?
 

carey

High Supremacy Member
Joined
Sep 10, 2002
Messages
33,293
Reaction score
430
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
We can also dispute the annual value of our units - which I did before cos my unit isn't on the same high floor etc, facing not as good, so can't achieve that type of rental

They did reduce my annual value after that
 

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
We can also dispute the annual value of our units - which I did before cos my unit isn't on the same high floor etc, facing not as good, so can't achieve that type of rental

They did reduce my annual value after that
Mostly and those that go court cases lah...

For most small cases, get your own valuation, submit the dispute/appeal and if got grounds, they probably try to accommodate or meet in middle ground
 

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
If AV really lower, then those grants that they give base on AV will be covering more people. As well as the property affiliated taxes will be reduced.

So by all means make it realistically lower. :o
Huh? What talking you?
 

carey

High Supremacy Member
Joined
Sep 10, 2002
Messages
33,293
Reaction score
430
Mostly and those that go court cases lah...

For most small cases, get your own valuation, submit the dispute/appeal and if got grounds, they probably try to accommodate or meet in middle ground
For individuals, it's quite simple

Just write in and give your reasons, don't even need to give any valuation in my case
 

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
For individuals, it's quite simple

Just write in and give your reasons, don't even need to give any valuation in my case
Well... I would say they are being nice but ppl will object and say is gov overcharge all the time anyway... :s13:

Let's just leave it at good for you then... :o
 

harbinger255

Greater Supremacy Member
Joined
Sep 15, 2006
Messages
79,432
Reaction score
18,961
Exactly, you don't understand how it works and what it covers. :o
Sigh.... your statement is the one that doesn't make sense.... but whatever bah... not gonna waste too much time to explain or defend...

Not my problem I suppose.... :o
 

rathalos

High Supremacy Member
Joined
Nov 20, 2012
Messages
27,168
Reaction score
5,094
I believe PAP is doing that. not Me.

I only have one information which I know. IRAS Property Tax.
In fact, the whole Singaporean HDB buyers know their property Tax.

Sounds like you have a "apple" formula to share.

Can tell us what is your formula?
Did u even google for what annual value is? How is govt using annual value to determine the price of ur property? Govt is taxing u based on ur potential income that you can gain from renting out the property, and you are renting the property from HDB at a heavily discounted price due to long tenure..

I'm not sure if u want HDB to start renting you your pigeon hole for 99 years based on AV..

The AV of buildings is the estimated gross annual rent of the property if it were to be rented out, excluding furniture, furnishings and maintenance fees. It is determined based on estimated market rentals of similar or comparable properties and not on the actual rental income received.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top