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Commencement of Land Betterment Charge Act on 1 August 2022
Consolidation of charges for enhancement of land value under a single agency for greater convenience
The Land Betterment Charge Act will enter into force on 1 August 2022. This follows the passing of the Land Betterment Charge (LBC) Bill in Parliament on 10 May 2021 and the gazetting of its subsidiary legislation today.
The LBC will consolidate the collection of charges for the enhancement of land value under a single agency, the Singapore Land Authority (SLA).
Currently, landowners and developers have to apply to SLA for the payment of Differential Premium (DP), and separately to the Urban Redevelopment Authority (URA) for the payment of Development Charge (DC) or Temporary Development Levy (TDL) for proposals which result in an enhancement in land value.
The consolidation of these applications will simplify the process of collection and provide greater transparency for landowners and developers.
As a new service to landowners, the baseline information (i.e. the use and intensity to determine pre-chargeable valuation) for all land parcels will also be progressively made available on SLA’s Integrated Land Service (INLIS) website. This will allow landowners to estimate the amount of LBC that is payable upfront. The process will therefore be simpler for landowners as they no longer have to conduct multiple checks with SLA and URA on the different charges that they have to pay.
More information on the LBC can be found here
Singapore Land Authority
5 July 2022