Property Prices Down But Not Property Taxes

[HakkaThaileen]

http://www.straitstimes.com/ST+Forum/Story/STIStory_320597.html

It seems that Inland Revenue Authority of Singapore (IRAS)'s assessment on annual value of a property is in defiance of the current softened property market.

There has been a sharp drop in growth of private home prices and home rentals. However, there is a hefty increase in property tax for for 2009.

Did the people working in IRAS carry out their assessment in an ivory tower..? Or is it that they are too slow to respond to the market reality..?

Have you checked your latest property tax bill? Or you are paying through GIRO and didn't realise there is hefty increase..?

 

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Property prices down but not property taxes
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->WITH reference to Tuesday's article, 'Home sales to stay weak next year', I cannot help but ask the Inland Revenue Authority of Singapore (Iras) why it is not reducing property tax for the coming year.
Official Urban Redevelopment Authority private and public housing sale transactions and rents dropped by 20 to 25 per cent in the second half of last year, compared to the year before, but Iras revised most property taxes upward by some 25 to 30 per cent in April-May. It said the annual value of Singaporeans' properties was in line with the general reassessment of similar properties.
I have just received my property tax and TV licence fee bill for this year. It is disappointing that Iras does not look at the worldwide economic downturn, which affects Singapore. Singapore already faces a recession and property prices have plunged by 20 to 25 per cent in the past year since the United States subprime crisis surfaced.
Many expatriates have left or will leave Singapore as a result of multi-national companies' cost-cutting exercises. With a surplus of 11,500 condominium apartments coming onstream this year, it is obvious that private as well as public property rents will come down.
Iras always ask property owners to submit their notice of objection to the Chief Assessor of Property Tax, but frankly I doubt many of us have the time and resources to do it.
I appeal to Iras to be more proactive and lower 2009 property taxes by 20 to 25 per cent for all property owners to alleviate our burden. David Goh

 

[makapaaa]

Need $ to help the poor. Can be more understanding and patriotic? *zzzz*​

 

[makapaaa]

May I also add that property tax has no link to property price? *hee*hee*​

 

[funglung]

Need $ to help the poor. Can be more understanding and patriotic? *zzzz*​

You voted for us!

We give you what you fucking deserved!

Nothing more, nothing less

 

[johnny333]

We getting a free haicut from the PAP lah.

Other things that should be rolled back; bus fares, pump price, ferry ticket prices, utility prices,...

Same old story, very quick to increase prices but slow to react when global oil prices is down

 

[downgrader]

bunch of faggots

hope iras punish them by making them pay extra for being late

when i say property down over the last year, all talk up the sky

when taxman come all giu chui

faggot singaporean private property owners

fuck them triple penetration - capital value down, rental down, tax up