Full coverage· Economy· Updated 31 Jul, 07:38

Half of Israeli Municipalities Seek Significant Property Tax Hikes Amid Political Deadlock

Half of Israel's municipalities have requested substantial property tax increases for 2027 amid a political deadlock with no Interior Minister to regulate them. These hikes come as local budgets face deficits partly due to increased tax exemptions.

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Half of Israeli Municipalities Seek Significant Property Tax Hikes Amid Political Deadlock — Illustration by baba

What happened

01121 Israeli municipalities request exceptional property tax hikes for 2027, some up to 30%.
02Prime Minister Netanyahu holds Interior Ministry but refuses to regulate tax increase guidelines.
03Property tax burden on households and businesses has risen by billions since the Iron Swords war.
04Tax exemptions granted to Shas voters increased municipal budget deficits, fueling hikes.
05Violent attack on News 12 building reflects escalating hostility toward media amid political tensions.
06Tech giants show mixed earnings; Elon Musk loses richest person title amid stock declines.

Concurrently, political tensions rise with attacks on media outlets and polarized public discourse. Globally, tech giants report mixed earnings amid AI investment pressures, while Elon Musk loses his top billionaire status.