Wednesday, December 05, 2012

Increase in property tax

The high prices of HDB flats have now hit existing flat owners through increase in property tax

This is bad for most people.
It is time to review the policy of market pricing of HDB flats!


C H Yak said...

With HDB prices forever going higher and higher, Annual Values will certainly go up and up; since AV is based on expected rentals.

Even though most HDB owners don't actually rent out, they will be hit "unfairly" by high property tax.

The irony is owners also could not simply cash out with "asset enhancement" unless they want and are allowed to camp on the beach.

So the craze for "upgrading" and now culminating in ridiculous EC prices, and before that DBSS prices; those who can earn more will try to churn and speculate.

With the Govt also trying to make tho most out of land sales ... it is pumping more and more into the Bubble and waiting for B-Day. I am watching when the burst will come ... it is either soon or sometime later, just a matter of differing "magnitude".

@"It is time to review the policy of market pricing of HDB flats!"...not only this, also the policy of imposing property tax based on AV which is linked to expected rentals.

Having the "dual" market system for HDB flats is a way out... just tax differently for the 2 categories of HDB flats, while also ensuring real "affordability".

yujuan said...

Quote from J.P. Morgan

"A man always has two reasons for doing anything - a good reason and the REAL reason."

Could refer to the Govt also.

Lye Khuen Way said...

Said it elsewhere. Daylight robbery.

Who is the real land lord or owner of my HDB flat? Not me.

How many of us, so called "owners" of these HDB flats do rent out? Not me, again.

Tan Choon Hong said...

“A man’s home is his castle.” Not anymore.

When our cavemen ancestors first invented governments, they probably elected the strongest man to be the chief so that he may protect the weakest in the tribe. Through the millennia, the chief and his retinue increasingly assume a parasitical role and now the people have to be protected from their government. Case in point, the increase in HDB property tax to feed the insatiable hunger for more revenue. One can’t help feel that we are reverting to the days of the Sheriff of Nottingham who would stop at nothing to plunder the peasants for all they can produce.

What we are seeing today is the conflict of interests between the “makers” and the “takers” as so vividly portrayed in Ayn Rand’s novel “Atlas Shrugged” where the takers, for example the government, take the products of the makers, the true producers of goods and services, and then tax what they leave behind.

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