Israel has dropped from first to sixth place in the global rankings for property tax burden, according to new analysis of international data.
Figures from the Organisation for Economic Cooperation and Development (OECD) compiled by tax advisory firm Ryan show that property taxes in Israel accounted for 3.2% of gross domestic product (GDP) in the 2023/24 financial year.
Just two years ago, Israel had the highest property tax burden among OECD nations.
The UK has now taken the top spot, with its property tax burden reaching 3.7% of GDP, followed by Luxembourg and France (both at 3.5%), Canada (3.4%) and Korea (3.3%).
Despite Israel’s drop in the rankings, its property tax levels remain well above the OECD average and are still among the highest worldwide. In recent years, rising housing costs and local authority pressures have driven debate in Israel around reforming municipal taxation and addressing housing inequality.
In the UK, meanwhile, households and businesses are preparing for a fresh wave of tax hikes from April. Council tax bills in England are set to rise by up to 5%, while first-time buyers will face reduced stamp duty relief, and retail businesses will see a cut in business rate support.
