The GEL 40,000 threshold for individuals’ property tax will be changed, First Deputy Finance Minister Giorgi Kakauridze told BMG. He said the Finance Ministry and Parliament’s Finance and Budget Committee will hold final discussions next week, with a decision expected by the end of the week.
Kakauridze said the amendment is expected to be approved before November 1, the deadline for property tax declarations, and could be adopted under an accelerated procedure. The initial changes will apply only to individuals, while reform of property taxation for commercial entities will continue separately.
The new threshold has not yet been disclosed. Parliament’s Finance and Budget Committee Chairman Paata Kvizhinadze previously said four possible models were being considered, while the parliamentary majority leader Irakli Kirtskhalia said the autumn session would include an increase in the GEL 40,000 threshold.
In 2025, individuals paid GEL 120.8 million in property taxes, up 30% year-on-year. This included GEL 86.1 million in individual property tax, GEL 22.3 million on agricultural land and GEL 12.4 million on non-agricultural land. Individuals are required to pay the tax annually by November 15 if their family’s taxable income exceeds GEL 40,000.
