The ruling Georgian Dream party is discussing raising the annual individual income threshold of 40,000 GEL (approximately $15,000) for property tax liability. This was announced by the parliamentary majority leader, Irakli Kirtskhalia.
“This is about increasing the limit currently in place. I cannot share any further details at this stage,” stated Irakli Kirtskhalia.
Under the current Tax Code, all citizens whose accrued annual income for the preceding year exceeds 40,000 GEL are required to submit a tax return and pay property tax. This requirement also applies if the combined total income of an entire household exceeds this amount.
Taxpayers must register on the Revenue Service website, report their accrued income, and provide the market value of their property. The system automatically calculates the annual tax liability.
