News Briefs

  1/1/2013, Tevet 19, 5773

New Year Brings Tax and Price Hikes into Effect

A number of tax and price hikes went into effect at midnight. Those making more than 14,000 shekels ($3,750) a month will pay a percent more in income taxes and those earning more than a million shekels ($267,881) a year face a two-percent increase. Municipal property taxes are rising 2.3 percent.

The price of water to residential consumers is going up three percent, while industrial customers will pay 17.5 percent more. An increase in electric rates is around the corner.