Fact Sheet – Costs On Selling A Property

Author:Ms Caroline Walsh
Profession:CWalsh Law Offices
 
FREE EXCERPT

As a general guide to the costs associated with selling property, the following expenses should be taken into account:

Cost Amount Additional Information Mortgage Redemption Bank charges and redemption costs If you have a mortgage on your property Land Appreciation Tax 25% of the indexed-linked capital gain less expenses Israeli tax residents may be exempt from this tax if selling their only residence and various other conditions are fulfilled. For properties purchased prior to 1.1.14, the tax is payable on a linear basis according to the length of time owned, if certain conditions are met. Betterment Levy 50% of increase in value Charged by the local municipality if permitted improvements have been made to the property during the period of ownership without planning permission as part of the validation process on sale. The levy is also imposed if changes in planning...

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