Category: Law & Taxation

Property Taxes Israel
Law & Taxation

Increase in property taxes on unoccupied apartments in Israel

The Municipality of Tel Aviv announced that it is increasing the property taxes (“arnona“) of approximately 1,400 “ghost apartments” to 220.78 NIS per square meter.  Property taxes are between 50 and 85 NIS 85 per square meter for apartments in Tel Aviv up to 140 square meters (depending on the area in ​​the city). On average, this...

US tax real estate in Israel
Buiding permits and planning permission in Israel
Law & Taxation

Building rights and permits in Israel

Many foreign residents purchasing real estate in Israel are surprised by the prevalence of illegal extensions to the apartments they view prior to finding the property they will ultimately purchase. This phenomenon has its roots in many different factors, including the complicated and drawn out process for obtaining building rights and permits in Israel; the costs involved which can...

Capital gains tax in israel
Land registration and ownership in Israel
VAT in Israel
Law & Taxation

VAT in Israel lowered to 17%—good news for homebuyers

As the government decided yesterday to lower the value-added-tax rate (VAT) in Israel by 1% from 18% to 17%, local and overseas homebuyers in the process of planning to purchase a new apartment in Israel are able to moderately reduce some of the cost involved. When buying a property in Israel, VAT is included in the price of...

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