Ownership Remains Taxable
Property tax applies whether a property is lived in by its owner, let to a tenant or vacant. Receiving no rent therefore does not by itself remove the ownership tax. The applicable assessment depends on the valuation and rate rules.
Rental Income Is Separate
Income tax concerns earnings, including rent from letting the property. An owner who rents out a home may need to address both property tax and rental-income tax. Paying one does not settle the other, and transaction stamp duty is another separate consideration.
Official Source
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