Update of Land Purchase Tax Brackets for 2018

On January 21, 2018, the purchase tax brackets under the Property Tax Law (Betterment and Purchase), 1963‎ applicable to the purchase of a residential apartment were updated and will apply from January 16, 2018, until January 15, 2019.
Sole Residence:
On the part of the value up to 1,664,520 ILS - no tax will be paid; above such amount and up to 1,974,335 ILS - 3.5%; above such amount and up to 5,093,535 ILS - 5%; above such amount and up to 16,978,450 ILS - 8%; and above that - 10%
Other Apartments:
On the part of the value up to 5,095,570 ILS - 8% and above that 10%.
Tax relief for an “Oleh Hadash” (Newcomer under law)
An "Oleh" purchasing a residential apartment or commercial property in the year prior to immigration and up to 7 years thereafter will pay on the part of the value up to 1,672,385 ILS - 0.5% and above that 5%.