Tax Authority: Property tax revenues on real estate deals totaled NIS 322 million in January 2009.
The global crisis is also affecting new and second-hand deals for residential and income-producing properties in Israel. Israel Tax Authority figures for January 2009 belie realtors' reports of new deals by homebuyers after several months of fence-sitting. The Tax Authority reports that property tax revenues on real estate transactions totaled NIS 322 million in January 2009, 49% less than in January 2008. The Tax Authority notes that two deals alone accounted for 30% of property tax revenues in January 2008.
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2009
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