ABSTRACT
Property tax is a tax levied on immovable properties. The property tax system in Singapore is basically an annual value system. The Inland Revenue Authority of Singapore is the organization responsible for the administration of taxation in Singapore. The property tax administration system has been continuously improved upon in Singapore to cater for the rapid economic and social changes. It is a challenge to maintain an up-to-date Valuation List in view of the volatility of the Singapore property market. A significant amount of time is spent on retrieving the necessary information required for assessment. In 1989, a computerized database was established for all taxable properties in Singapore. The chapter argues that mass appraisal is normally used for the assessment of homogeneous properties in other tax authorities. The Multiple Regression Analysis technique is commonly used to estimate or predict the capital value.
