Penalty for Late Payment of Property Tax

38 taxpayers have already been hit with penalties of up to GEL 2000 for being late with submitting their declarations of property tax. In total, 371 individuals have submitted their declarations late.
According to the Tax Service data, 4 640 families from the 18 892 registered ones have an annual income that exceeds GEL 100 000, while that of the rest ranges between 40 000 and 100 000 Lari.
Individuals are liable to pay property tax if their family’s total annual income exceeds GEL 40 000. The penalty for late submission of the property tax declaration is a minimum of GEL 50, and a maximum of 30% of the due amount of tax.