Iranian missile attacks devastate Israel with $1.5 billion in damages

In June 2025, Israel experienced significant property damage due to Iranian missile attacks during a military conflict known as Operation Rising Lion. The Israel Tax Authority reported that the destruction from these attacks resulted in estimated damages amounting to 5 billion shekels, equivalent to $1.5 billion. This figure was provided during a conference on Spatial Planning and Construction, where Tax Authority Director General Shai Aharonovitch highlighted the urgent need for a cohesive reconstruction policy as local municipalities and contractors embarked on disjointed recovery efforts. Mayor Matan Deal of Rehovot detailed the unprecedented devastation caused by the conflict, noting that it severely affected tens of thousands of apartments and posed a national challenge to reconstruction efforts. He also mentioned that the Weizmann Institute of Science in Rehovot alone suffered damages exceeding 1 billion shekels, not accounting for invaluable research lost during the missile strikes. Furthermore, the emotional and human toll included the tragic deaths of 30 Israeli civilians, including vulnerable populations such as Holocaust survivors and a young child undergoing treatment for cancer. The lack of a unified strategy for reconstruction has aggravated the situation, with partially damaged buildings complicating repair efforts significantly. This fragmentation in planning leaves homeowners and contractors to develop their own responses to the damages, leading to inefficiencies and delays in recovery. The rapid legislative action is deemed necessary to streamline the process and facilitate the rebuilding of structures that were damaged in the conflict. Overall, the situation presents a dire need for coordinated efforts towards recovery and highlights the profound impact of the hostilities on the physical, emotional, and economic fabric of Israeli society. Addressing these challenges in a structured manner would not only aid in reconstruction but also foster resilience in the face of future threats.