According to the draft law “On Amendments to the Tax Code of Georgia,” which was adopted by Parliament at the III reading with 91 votes in favor, the existing multi-tier system, including the GEL 40,000 threshold and corresponding rates, will be abolished, and a single income threshold of GEL 100,000 will be established, within which an individual will be fully exempt from property tax.

The draft law was presented at the plenary session by Paata Kvizhinadze, Chair of the Budget and Finance Committee. Under the draft law initiated by the parliamentary majority, 81,000 families will be exempt from property tax. The draft law, for which an expedited procedure was requested, will enter into force immediately upon its promulgation.

The amendment will apply to property tax that, pursuant to the Tax Code of Georgia, is subject to declaration in 2026.