Parliament Speaker confirms 81,000 citizens will benefit from property tax threshold change starting in October

“The upcoming legislative reform regarding property tax will also apply to tax returns due to be filed this year,” the Speaker of the Georgian Parliament, Shalva Papuashvili, has announced on social media.

According to Papuashvili, the changes will take effect from 1 October.

“81,000 individuals are being exempted from property tax. The 40,000 GEL threshold is being abolished.

Only citizens with an income exceeding 100,000 GEL will pay property tax.

The legislative change will come into force on 1 October and will also apply to property declarations to be submitted for the current year,” wrote Shalva Papuashvili.

Under the new legislative initiative, individuals will only be liable for property tax if their annual household income starts at 100,000 GEL or above.