Category: Law & Taxation

residential property tax
apartment size
real estate tax
new apartment
Agent's commission
Purchase Tax in Israel | Mas Rechisha
Law & Taxation

Purchase Tax Update: New thresholds in January 2021

Every year, during the month of January, Israel Tax Authority publishes new thresholds for Mas Rechisha (Purchase Tax in Israel) according to the Central Bureau of Statistics Home Prices Index for the previous year. The Mas Rechisha or Purchase Tax 2021 thresholds are updated annually, in mid-January, with consideration for the Home Prices Index of...

pre-owned home in Israel
Law & Taxation

Buying a pre-owned home in Israel: What will our attorney do during the negotiation process?

When purchasing a second-hand home in Israel, it is customary for the purchaser’s attorney to conduct negotiations with the vendor’s attorney by discussion, exchange of correspondence, and drafts of the contract of sale which reflect each party’s concept of how the transaction should be structured. The following is a selection of some of the more critical issues that a purchaser’s attorney will address during the process of a second-hand transaction:

Municipal Tax in Israel
Law & Taxation

Arnona: How the Municipal Property Tax in Israel Works

The municipal property tax in Israel, known as “Arnona,” is levied by the local authorities in order to finance their activities and services. It is calculated according to a variety of parameters, including the purpose of the building, its size, the socio-economic status of the neighborhood, and more. These variables can result in an enormous...

church land property in Jerusalem
non residents buying in Israel
Law & Taxation

Government announces cut in purchase tax in effort to encourage investment among second homeowners and non residents buying in Israel

 The purchase tax (known as Mas Rechisha) imposed on property in Israel has been significantly reduced for second homeowners and non-residents buying in Israel, in order to encourage activity within the local real estate market during the Corona crisis. The decision by the Minister of Finance, Israel Katz, was approved by the Knesset on August...

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