On non-owner occupied residential properties and owner-occupied residential properties, multi-tier progressive tax rates will apply. The annual property tax is then calculated by multiplying the annual value of the property with the applicable Property Tax Rates. For non-owner occupied residential property, a specific exclusion list exists for properties holding planning approval for the specific use of the property. A flat 10% rate will also apply. The exclusion list includes hospitals, hotels, serviced apartments, etc.