Under the Proposed Law, Local Authorities Would Begin Allocating a Percentage of Their Property Tax Collections to the New Fund Which Will Redistribute It to Poorer Municipalities to Incentivize the Construction of Homes in Impoverished Communities
Minister of Finance Bezalel Smotrich: The fund gives local government an incentive to build housing units. The days are over in which we surrender to vested interests.
According to Israeli law, the budgets must pass by May 29 at midnight. If they do not pass on time, the Knesset disperses automatically and Israel heads to an election.
JERUSALEM, May 14 (Xinhua) The Federation of Local Authorities in Israel on Sunday announced that they would stage a general strike on Monday over a controversial property tax law promoted by the government.