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16-06-2014, 12:00 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
Saw a couple of posting on Landed properties with cpf.
Question is normally what would be the property tax on a landed property, assuming it's 2500sqft, worth, say 2.5mil.
I might say ,the property tax could be very considerable.
Most of old folks could have bought it many years ago and has since appreciated.
Would it make sense to just sell it and downgrade into a condo/hdb, rather then trying to retain it and pay so much on the taxes.
Even if their intention is to pass it to their sons/daughter, could it be a burden to them to maintain it.
Or simply, they will just sell in and divide the proceed among them, once the old folks are gone.
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?184151-Landed-Property-and-Property-Tax&goto=newpost).
Saw a couple of posting on Landed properties with cpf.
Question is normally what would be the property tax on a landed property, assuming it's 2500sqft, worth, say 2.5mil.
I might say ,the property tax could be very considerable.
Most of old folks could have bought it many years ago and has since appreciated.
Would it make sense to just sell it and downgrade into a condo/hdb, rather then trying to retain it and pay so much on the taxes.
Even if their intention is to pass it to their sons/daughter, could it be a burden to them to maintain it.
Or simply, they will just sell in and divide the proceed among them, once the old folks are gone.
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?184151-Landed-Property-and-Property-Tax&goto=newpost).