An individual pays tax on real estate, yachts, helicopters, planes and passenger cars. All taxable property except land is exempt if the family's income for the previous year did not exceed GEL 100,000 (Article 206). Above that threshold, an individual pays 0.8% to 1% of the property's market value at the end of the previous year, and the rate no longer depends on income (Article 202, as amended by Law No 1874 of 30 September 2026). Land is taxed separately, at a rate that depends on its category and location.
To prepare the declaration, a legal entity needs balance sheet data showing the residual value of fixed assets at the beginning and end of the year, as well as details of any property not reflected on the balance sheet. Individuals must confirm ownership of the property and provide information on annual income. With all documents in hand, preparing and submitting the declaration typically takes 2 to 5 business days.
Filing and payment deadlines
| Who | Return | Tax payment |
|---|---|---|
| Company | by 1 April, for the previous year | by 1 April for the previous year, current payment by 15 June |
| Company, tax on land | together with the return | by 15 November |
| Individual | by 1 November | by 15 November, together with tax on land |
A company may reduce the current payment or skip it if the expected tax for the current year falls by at least 50% compared with the previous year and it notifies the tax authority by 1 June (Article 205). If the year-end results do not show such a reduction, penalty interest accrues on the unpaid current payment.
An individual's tax is calculated by the tax authority based on the return and in proportion to the time the property was owned. A detailed breakdown of rates with worked examples is in our article on property taxes in Georgia, and the fines are covered in our article on late filing tax penalties in Georgia.
Who is required to file a property tax declaration?
Companies with taxable property on their balance sheet file by 1 April. An individual files by 1 November if they have a tax liability. If there is no liability, there is no need to file, but if a return was filed for the previous year, the tax authority must be notified of the decision not to file by 1 November.
What is the property tax rate for companies?
For legal entities, the rate is up to 1% of the average annual book value of fixed assets. The exact rate is set by the municipality and cannot exceed the statutory maximum.
When is property tax due?
A company files the return and pays the tax for the previous year by 1 April, and makes the current payment for the current year, equal to last year's tax, by 15 June. A company pays tax on land by 15 November. An individual files by 1 November and pays property tax and tax on land by 15 November.
Does a foreigner's property in Georgia get taxed?
Yes. Foreign individuals and legal entities that own property in Georgia are subject to property tax on the same basis as residents.
What happens if the declaration is not filed on time?
The late filing fine is 5% of the tax under the return for each month of delay, if the delay is two months or less, and 10% after that (Article 274 of the Tax Code). If the tax under the return is zero, no fine is charged. Late payment separately accrues penalty interest of 0.05% of the unpaid amount per day (Article 272).