The Parliament of Georgia has fast-tracked and passed in its third and final reading a bill abolishing the 40,000 GEL (approximately $15,000) property tax threshold.
Under the amendments to the tax legislation, a unified annual income threshold of 100,000 GEL (around $38,000) has been established. Individuals with an income exceeding 100,000 GEL will pay between 0.8% and 1% of the market value of taxable property (excluding land plots) as property tax.
The bill was submitted to parliament by lawmakers from the ruling Georgian Dream party. The tax code amendments will come into effect immediately upon official publication.
According to Georgian Dream, the change will affect approximately 81,000 taxpayers, whose assessed tax liabilities would have totaled 22.3 million GEL in 2025.