diff --git a/charts/argo-cd/Chart.yaml b/charts/argo-cd/Chart.yaml
index 49d2233c9..9b423e8f0 100644
--- a/charts/argo-cd/Chart.yaml
+++ b/charts/argo-cd/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: v2.8.4
 kubeVersion: ">=1.23.0-0"
 description: A Helm chart for Argo CD, a declarative, GitOps continuous delivery tool for Kubernetes.
 name: argo-cd
-version: 5.46.4
+version: 5.46.5
 home: https://github.com/argoproj/argo-helm
 icon: https://argo-cd.readthedocs.io/en/stable/assets/logo.png
 sources:
@@ -27,4 +27,4 @@ annotations:
     url: https://argoproj.github.io/argo-helm/pgp_keys.asc
   artifacthub.io/changes: |
     - kind: fixed
-      description: Align redis-ha's affinity type to upstream due to warnings
+      description: fixed issue with argocd-server servicemonitor annotation attribute being added even when no annotations where defined
diff --git a/charts/argo-cd/templates/argocd-server/servicemonitor.yaml b/charts/argo-cd/templates/argocd-server/servicemonitor.yaml
index f876a1a18..d036a8e17 100644
--- a/charts/argo-cd/templates/argocd-server/servicemonitor.yaml
+++ b/charts/argo-cd/templates/argocd-server/servicemonitor.yaml
@@ -12,10 +12,10 @@ metadata:
     {{- with .Values.server.metrics.serviceMonitor.additionalLabels }}
       {{- toYaml . | nindent 4 }}
     {{- end }}
+  {{- with .Values.server.metrics.serviceMonitor.annotations }}
   annotations:
-    {{- range $key, $value := .Values.server.metrics.serviceMonitor.annotations }}
-    {{ $key }}: {{ $value | quote }}
-    {{- end }}
+    {{- toYaml . | nindent 4 }}
+  {{- end }}
 spec:
   endpoints:
     - port: {{ .Values.server.metrics.service.portName }}