Proportion of Property Taxes from Owner-occupied Properties

Debated in Parliament on 26 Feb 2025.

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Leong Mun Wai inquired about the proportion of property taxes from owner-occupied properties for the years 2005, 2010, 2015, 2020, and 2024.
Chee Hong Tat responded that the government cannot provide data for such an extended period but shared that the proportions for 2019 and 2024 are 7% and 12.5%, respectively.
The fluctuations in property tax contributions from owner-occupied properties are influenced by market conditions and annual property tax rebates.
The year 2020 was excluded from the comparison due to the impact of the COVID-19 pandemic on the property market and tax revenue.

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Full Transcript

Leong Mun Wai

Mr Leong Mun Wai asked the Prime Minister and Minister for Finance what proportion of property taxes collected in (i) 2005, (ii) 2010, (iii) 2015, (iv) 2020 and (v) 2024 are from owner-occupied properties, respectively.

Chee Hong Tat

The requested information spans over two decades and we are unable to provide the series of data over such a long time. For 2019 and 2024, the proportion of property taxes (PT) from owner-occupied (OO) residential properties is 7% and 12.5% respectively, taking into account the PT rebates for that year. PT contributed by OO residential properties fluctuates year to year, depending on market conditions and the PT rebates provided.

We have provided 2019 for comparison instead, as 2020 was the start of the COVID-19 pandemic, which had impacted the property market and PT revenue.

Summary written by AI (learn more)

Leong Mun Wai inquired about the proportion of property taxes from owner-occupied properties for the years 2005, 2010, 2015, 2020, and 2024.
Chee Hong Tat responded that the government cannot provide data for such an extended period but shared that the proportions for 2019 and 2024 are 7% and 12.5%, respectively.
The fluctuations in property tax contributions from owner-occupied properties are influenced by market conditions and annual property tax rebates.
The year 2020 was excluded from the comparison due to the impact of the COVID-19 pandemic on the property market and tax revenue.

Questions identified by AI (learn more)

Proportion of Property Taxes from Owner-occupied Properties | PAPERCUTS

Proportion of Property Taxes from Owner-occupied Properties

Debated in Parliament on 26 Feb 2025.

Summary written by AI (learn more)

Leong Mun Wai inquired about the proportion of property taxes from owner-occupied properties for the years 2005, 2010, 2015, 2020, and 2024.
Chee Hong Tat responded that the government cannot provide data for such an extended period but shared that the proportions for 2019 and 2024 are 7% and 12.5%, respectively.
The fluctuations in property tax contributions from owner-occupied properties are influenced by market conditions and annual property tax rebates.
The year 2020 was excluded from the comparison due to the impact of the COVID-19 pandemic on the property market and tax revenue.

Questions identified by AI (learn more)

Full Transcript

Leong Mun Wai

Chee Hong Tat

We have provided 2019 for comparison instead, as 2020 was the start of the COVID-19 pandemic, which had impacted the property market and PT revenue.

Summary written by AI (learn more)

Leong Mun Wai inquired about the proportion of property taxes from owner-occupied properties for the years 2005, 2010, 2015, 2020, and 2024.
Chee Hong Tat responded that the government cannot provide data for such an extended period but shared that the proportions for 2019 and 2024 are 7% and 12.5%, respectively.
The fluctuations in property tax contributions from owner-occupied properties are influenced by market conditions and annual property tax rebates.
The year 2020 was excluded from the comparison due to the impact of the COVID-19 pandemic on the property market and tax revenue.

Questions identified by AI (learn more)

Proportion of Property Taxes from Owner-occupied Properties

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Questions Identified

Full Transcript

Leong Mun Wai

Chee Hong Tat

Summary

Questions Identified

Proportion of Property Taxes from Owner-occupied Properties

Summary

Questions Identified

Full Transcript

Leong Mun Wai

Chee Hong Tat

Summary

Questions Identified