Economic growth drove up household incomes, prompting property tax relief, says MP Irakli Kheladze

“Last year, citizens voiced concerns regarding property tax; this decision is a direct response aimed at easing the tax burden they previously carried,” stated MP Irakli Kheladze, Deputy Chair of the Parliamentary Budget and Finance Committee.

In his assessment, sustained economic growth trends prompted higher incomes.

“Under current legislation, property tax is paid by households with an annual income exceeding 40,000 GEL. The threshold is now being raised so that citizens earning 40,000 GEL will no longer pay property tax. Meanwhile, for those with an income of 100,000 GEL, the tax rate will stand at 1 per cent. Upward economic trends have generated higher earnings for our citizens. Last year, households expressed anxiety over property tax levies. This decision reflects our commitment to alleviating the financial burden they were previously paying,” noted Irakli Kheladze.