Property tax in Georgia belongs to the local tax, it is not a general state tax, although the payment of property tax is mandatory by law.
Property taxpayer is:
• Resident enterprise/organization
• Non-resident enterprise
• Physical person
Property taxes are set by local governments. The annual property tax rate for individuals and enterprises/organizations is set at no more than 1 percent of the value of the taxable property. For the purposes of this section, the value of taxable property is the average annual carrying amount of the assets (calculated as the average value of the assets at the beginning and end of the calendar year).
Annual basic property tax rates are differentiated in accordance with the administrative-territorial units and land categories.
A person shall pay the property tax on land as of April 1 of the tax year in the following cases:
• On the land he/she owns.
• On state-owned land that he/she uses or owns.
• On a land plot being in his/her possession and/or use, registered in the name of the deceased person, unless the land is used on the basis of a lease, rent, usufruct or other such agreement.
The tax period of the property tax is considered to be a calendar year. The enterprise/organization shall submit the property tax declaration to the relevant tax authority no later than April 1 of the calendar year and pay the property tax within the same period.
Data on taxable property shall be entered in the declaration according to the previous tax year, and data on taxable land - according to the current tax year. The enterprise/organization shall pay the property tax on land no later than November 15 of the calendar year.
The property tax of a natural person shall be calculated by the tax authority on the basis of a declaration submitted by the natural person to the tax authority no later than November 1 of the calendar year.
Data on taxable property shall be entered in the declaration according to the previous tax year, and on taxable land - according to the current tax year.
It should be noted that a natural person is not always required to file a property declaration.
We offer consultations on property tax issues in Georgia, preparation of a declaration for both individuals and legal entities and submission to the tax authority