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The real reasons why PAP increases property tax for HDB flats

December 5th, 2012 | Author: Contributions

HDB

Want to know why PAP government, in their annual Property Tax revision, give our HDB apartments a high assessment based on market (rental) value?

Discerning Singaporeans are able to see the following apparently clever “reasons”:

1) As they never fail to do, PAP try to delude us (HDB apartment “owners”) we are rich, insinuating we sit on a pot of gold.

2) They can then use the high “market” value to price their new apartments at higher prices.

3) The high value will serve to escalate the prices of HDB flats, triggering a stampede by the kiasu or the enterprising rich to buy,

and further rocketing the prices. Any surprise a HDB flat can hit a million dollars this year? (A 5-room point-block flat in Dover Drive

C a sought-after location C could be bought from the HDB at $33,500 in the 1970’s!

Don’t tell us the SGD has devalued 1/30 of its value, or building costs have rocketed 30 times? )

4) High prices will ensure we slave for 30 years to “own” a pigeon hole.

5) Keeping us busy with slavery will ensure we have no mind or time to give PAP “trouble”.

6) We will not want to “rock the boat”, out of fear of harming our slaved-for asset.

7) Unfounded fear of asset-value loss is regularly exploited at election times C

“Vote in the Opposition, and see your HDB apartments value crash!” is a familiar threat used by the PAP at such times.

Hopefully the above disclosure of the apparent hidden agenda will pull of the wool from the eyes of the nave 60%.

.

Edward