TBILISI, September 29 – Georgia’s parliament is considering changes that would sharply raise the income threshold for paying property tax.
A bill submitted to parliament on Monday would scrap the current 40,000-lari household income threshold and leave only a 100,000-lari threshold for property tax liability. The amendments to the Tax Code have already been presented to parliament’s bureau and are due to be considered under an accelerated procedure.
Parliament Speaker Shalva Papuashvili said the proposal, which was tabled by members of the ruling Georgian Dream party, would abolish the 40,000-lari threshold and retain only the 100,000-lari limit.
Under the rules currently in force, families with annual income below 40,000 lari are exempt from property tax.
Families earning between 40,000 and 100,000 lari are currently subject to tax rates ranging from 0.05% to 0.2%, while families earning more than 100,000 lari face rates ranging from 0.08% to 1%.
