The financial toll of Iran’s missile strikes on Israel earlier this year has reached record levels, with damages now estimated at more than 4 billion shekels ($1.1 billion) in just the first wave of claims, the Israel Tax Authority said. Officials warned that the final cost, once indirect losses are included, will run into the “several billions more.”
In only 12 days of fighting, Israelis filed 53,599 claims for direct damage — the highest ever recorded. Nearly 42,000 property claims were submitted, including 36,928 from private homeowners, making housing the single hardest-hit sector. Hundreds of homes were completely destroyed and will need to be rebuilt from scratch, leaving families displaced for months or years. The state will be forced to fund temporary housing for those left without shelter.
Critical national institutions were not spared. The Weizmann Institute of Science and Soroka Medical Center sustained heavy damage, while prolonged shutdowns of businesses across the country added to the devastation.
Businesses filed 5,108 claims for losses, with hundreds of shops and offices deemed beyond repair. Vehicle damage also reached historic highs, with at least 5,400 cars destroyed or heavily damaged in the missile fire.
To date, the Property Tax Compensation Fund has paid out roughly 1.6 billion shekels ($430 million) in direct compensation. But indirect claims — covering lost business, wages, and production — are already dwarfing direct damages. In less than two weeks of war, 98,569 indirect claims were filed, almost double the direct figure. Nearly 60,000 have already been processed, with an additional 1 billion shekels ($270 million) paid out in partial compensation.
(YWN World Headquarters – NYC)
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One Response
People have eyes but they don’t see. The amount of damage that the state will have to cough up for as well as military spending far exceeds what it would cost to fund yeshivos and kollelim for many many years. They think they’re saving money now but Hashem took away much more, and they still don’t see it as a sign.