City finally passes tax budget

The budget contains no major changes from last year's rates for residential properties.

By MIRIAM BULWAR DAVID-HAY (TRANSLATED)
After a two-month delay, the city of Hod Hasharon has approved its municipal tax budget for 2008, reports www.local.co.il. The budget contains no major changes from last year's rates for residential properties, but new high-tech businesses that open in the city's industrial zone will be entitled to a 50 percent discount for the first two years. According to the report, the budget was delayed by opposition councilors, who demanded that certain changes be made, and the discussions continued until last week. The council has agreed to give a 3% discount to those who pay one year in advance and a 1.5% discount to those who pay by standing bank order.