Property tax calculator Hong Kong
If you let out a property in Hong Kong, you pay property tax on the rent. It is worked out for each year of assessment, from 1 April to 31 March.
Enter the rent, the months it was let and the rates you paid to see the tax and the provisional tax for next year.
How it's calculated
- Assessable value is the rent less any rent you couldn't recover.
- Take off the rates you paid as owner, then a statutory allowance of 20% for repairs and outgoings. What's left is the net assessable value.
- Property tax is 15% of the net assessable value.
- Provisional tax for next year is worked out the same way. If the letting started during the year, it is grossed up to 12 months.
An example
Rent of $10,000 a month with the tenant paying rates gives a net assessable value of $96,000. The tax is $14,400, and the same again as provisional tax.
Frequently asked questions
What is the property tax rate in Hong Kong?
The standard rate is 15% of the net assessable value. It has been the same since 2008/09.
How are repairs and outgoings taken into account?
Through a statutory allowance of 20%, worked out after taking off the rates you paid as owner.
When is provisional property tax paid?
Normally in two instalments: the first around November and the second around April of the next year.
Does the one-off tax reduction apply to property tax?
No. The IRD says the reduction doesn't apply to property tax, though you may benefit if you're eligible for personal assessment.
Key terms
- Net assessable value (NAV)
- Rent less irrecoverable rent, rates paid by the owner and the statutory allowance. The tax is charged on it.
- Rates
- A government charge on property, separate from property tax.
Up-to-date official data
Data checked against the official source on .
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