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New Ruling May Significantly Increase Property Betterment Levy for Urban Renewal Projects
A new court ruling is changing how the betterment levy is calculated for urban renewal projects in Israel, potentially increasing costs for property owners. Nehama Bogin, Chairwoman of the Israel Association of Appraisers, warned that sellers could face significant unexpected expenses.
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What happened
- 01A new ruling will change betterment levy calculations for urban renewal projects.
- 02The change could lead to significant, unexpected costs for property sellers.
- 03Nehama Bogin chairs the Israel Association of Appraisers.
- 04Sellers are advised to prepare for potential financial impacts on deals.
Property owners are advised to understand the levy's calculation to prepare for potential financial impacts on their transactions.
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