Municipal budget cut to make Tel Aviv costlier

• Published date: 09 May 2024
• Author: Asaf Zagrizak
• Publication title: Globes (Rishon LeZion, Israel)

The cut is being implemented because of increased spending following the war, rising prices, and two court rulings last year on improvement levies. The rulings stopped the municipality's practice of collecting the levies on the sale of apartments in buildings that had undergone urban renewal. The municipality claimed the ruling dealt a lethal blow to the municipal budget

In addition, the property tax fund initiated by the government last year to divert part of property tax revenues from local authorities to encourage housing construction, is also harming the municipality's revenues. Tel Aviv is also preparing for the government to impose various...