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Daily Israel Report
12:59
Reported

News Brief

  2/24/2011, Adar 20, 5771

Real Estate Tax Income Shoots Up


With the rise in the cost of real estate over the past year, the Housing Ministry said Thursday that the state's take of real estate taxes shot up between January and November of last year by 36% over the same period a year before. Israelis paid NIS 6.5 billion during the period last year, compared to NIS 4.7 billion during the same period in 2009.

The Ministry also said that there had been a massive jump in the price of land in the center of the country. In 2008, the average lot for a private house was valued at NIS 96,000, compared to the current NIS 465,000 for lots – a jump of 380%.