A bill has been approved to amend the purchase tax rates on buyers of a single apartment

Proposal to amend Ha’s Real Estate Tax Law"Yoav Kish of the Likud Party and other Knesset members was recently approved (Wednesday) in the Knesset plenum. 84 MKs supported the proposal and 7 opposed.

In the proposed amendment, it is proposed to amend the purchase tax rates applicable to the purchaser of a single residential apartment, so that for the part of the value up to NIS 1,930,000"No purchase tax will be paid, and for the part of the value that exceeds this amount up to NIS 2,330,000"H. A tax of 3.5% will be paid. It is also proposed to reduce the high tax brackets on the purchase of a single residential apartment. In addition, it is proposed to stipulate that an increased tax rate will not apply to the purchaser of apartments in a building for rent or the purchaser of apartments in a building for institutional rent (continuing tenant), but to which reduced tax rates will apply. The committee empowered to discuss this bill is the Finance Committee.

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