Shaw Towers Realty Hits Snag in Bid to Lower Property Tax Valuation at High Court
Shaw Towers Realty’s attempt to lower the property tax valuation for Shaw Tower on Beach Road has been rejected by the High Court. Justice Chionh upheld the chief assessor’s valuation on 17 June, dismissing the company’s counterproposal and criticising Shaw Towers for attempting to “cherry-pick and vacillate” between different valuation figures.
Assessor Valuation 1
Assessor Valuation 2
Shaw Counter 1
New Development
The Valuation Dispute
The court upheld the chief assessor’s annual value of S$42.3 million and S$44.7 million (with 10 per cent property tax), dismissing Shaw Towers Realty’s counterproposal of S$35.6 million and S$37.6 million.
When the company appealed to the Valuation Review Board with revised figures of S$40 million and S$42.3 million, the board reverted to the original lower proposal and rejected the amendment request. Justice Chionh criticised Shaw Towers for attempting to “cherry-pick and vacillate,” calling it a back-door attempt to revert to their original values.
Justice Chionh’s decision on 17 June confirmed that the Valuation Review Board’s rulings on procedural matters are not subject to appeal. Even if they were, the court stated it would have rejected the extension request anyway.
Shaw Tower: From Heritage to Mixed-Use Landmark
The original Shaw Tower has since been demolished and replaced with a 32-storey mixed-use development featuring Grade A office space, retail and dining options including a rooftop restaurant, and community facilities. The building is expected to receive its temporary occupation permit (TOP) this year.
The case underscores the importance of getting property tax valuations right, particularly for commercial property owners managing large-scale developments where even modest differences in annual value translate into significant tax obligations.
Frequently Asked Questions
What was the property tax dispute about?
Shaw Towers Realty sought to lower the chief assessor’s annual value of S$42.3 million and S$44.7 million for Shaw Tower on Beach Road. The company proposed S$35.6 million and S$37.6 million instead, but the High Court upheld the assessor’s valuations.
Why was Shaw Towers criticised by the judge?
Justice Chionh criticised Shaw Towers for attempting to “cherry-pick and vacillate” between different valuation figures, calling their revised appeal a back-door attempt to revert to original values after the Valuation Review Board rejected the amendment.
What has happened to the original Shaw Tower?
The property has been demolished and replaced with a 32-storey mixed-use development featuring Grade A office space, retail and dining options, and community facilities. It is expected to receive its temporary occupation permit this year.
Commercial Property Tax Questions?
Understanding property tax valuations is critical for commercial property owners. AsianPrime Properties can connect you with the right advisors.