Parliament has approved amendments to the Tax Code exempting individuals with annual income of up to GEL 100,000 from property tax. The bill was approved in its third and final reading with 91 votes in favor and none against.
The legislation, initiated by Georgian Dream lawmakers, was considered under an expedited procedure and passed all three readings within two days. The amendments abolish the previous multi-tier system, including the GEL 40,000 threshold and corresponding tax rates, and establish a single GEL 100,000 income threshold.
Under the new rules, individuals with income of up to GEL 100,000 will be fully exempt from property tax. The exemption will apply to property tax that is required to be declared in 2026 under the Tax Code.
Paata Kvizhinadze, chair of Parliament’s Finance and Budget Committee and the bill’s rapporteur, said the change will affect approximately 81,000 families. The law will enter into force immediately upon publication.
