If taxpayer enterprise/organization exists only for an incomplete calendar year, then it pays property tax only for that period.

Enterprises/organizations do pay property tax (except for tax on land) no later than April 1 of the year following the tax year. At the same time, enterprises/organizations do pay property tax by way of current payments, which is equal to the amount of annual tax paid for previous year. Tax payment must be made no later than June 15 of the tax year.     

Property tax on land must be paid no later than November 15 of the calendar year.

Legal entity that was established after the beginning of a calendar year is not charged with liability to pay current payments in accordance with appropriate tax period. Simultaneously the amount of current payments in accordance with following tax period will be equal to the full amount of previous year’s annual tax.

The enterprise/organization itself is responsible to calculate amount of tax by taxable land and also other taxable properties.

Property tax rate on taxable property owned by enterprise/organization is determined as 1% of average residual value (is calculated based on asset average values at the beginning and at the end of the calendar year) per year. At the same time, only the residual value of immovable assets purchased before the year 2000 increases three times; the residual value of immovable assets purchased in the period of 2000-2004 increases two times; the residual value of immovable assets purchased in year 2004 increases 1.5 times. The residual value of immovable assets, on which purchase information is not available, increases 3 times. (Article 202, Tax Code of Georgia)   

The value of assets is calculated in line with international accounting standards.

Property tax amount for agricultural land is calculated by multiplying tax rate by land area (in hectares). The annual basic tax rate (in GEL) per hectare is determined by the Government of Georgia as follows:
a) For hayfields and pastures according to territorial entities and type of land within the range of 1.5-20 GEL;
b) For hayfields and pastures according to territorial unities and quality of land within the range of 50-100 GEL.
Local self-government representative body determines property tax rate, which should not exceed 150% of the annual basic rate defined by the government of Georgia;

Property tax on forest land is calculated as follows:
- The annual basic tax rate (in GEL) per hectare is determined by the Government of Georgia according to territorial entities within the range of 20-50 GEL;
- Local self-government representative body determines property tax rate, which should not exceed 50% of the annual basic rate defined by the government of Georgia. Thus, property tax on forest land is subject to pay only if local self-government decides to introduce it.

Property tax on forest land is calculated as follows:
- The annual basic tax rate (in GEL) per hectare is determined by the Government of Georgia according to territorial entities within the range of 50-100 GEL;
- Local self-government representative body determines property tax rate, which should not exceed 50% of the annual basic rate defined by the government of Georgia.

Property tax amount for agricultural land is calculated by multiplying tax rate by land area (in square meters). The annual basic tax rate for non-agricultural land is determined as 0.24 GEL per square meter per year. Rates of property tax on non-agricultural land for particular land plots in accordance with land plot location are determined by the local self-government representative body by multiplying basic rate by territorial coefficient. At the same time, territorial coefficients must not exceed 1.5.   

Fixed assets recorded on the balance sheet of non-resident, non-installed devices, incomplete constructions and intangible assets, also property delivered under the terms of lease, which are located on the territory of Georgia are subject to property tax. Also, subject to property tax is:
a) Land in possession of foreign enterprise as of April 1;
b) State owned land which is either used or possessed by foreign enterprise;
c) Land either used or possessed by foreign enterprise but registered on the name of decedent person, except for case when land is used under the terms of the rental or usufruct agreement.

Fixed assets recorded on the balance sheet of resident enterprise/organization, non-installed devices, incomplete constructions and intangible assets, also properties delivered under the terms of lease are subject to property tax. Also, subject to property tax is:
a) Land in possession of resident enterprise/organization as of April 1;
b) State owned land which is either used or possessed by resident enterprise/organization;
c) Land either used or possessed by foreign enterprise but registered on the name of decedent person, except for case when land is used under the terms of the rental or usufruct agreement. 
 

The deadline to file property tax return is no later than April 1 of the calendar year. Property data inputted into the tax return must be for the previous tax year, and data on land must be inputted for the current tax year.  

If the portion of the amount of expected property tax liability for the current tax year (including tax benefits) is decreasing for more than 50% compare to previous year and if taxpayer notifies tax authority of that no later than June 1 of the current year, then taxpayer is entitled to reduce or not to pay current payments. 

Due date for filing tax return may be extended by three months provided that taxpayer paid currnet payments for the period of declaration (or is no liable to pay current payments) and applied tax authority with written request to extend due date for tax return filing prior to the due date expiration. At the same time, extension of tax return filing date will not affect the tax payment date. 
 

Taxpayer is entitled to:
• To file property tax return manually by himself;
• To file property tax return electronically via RS web-site (www.rs.ge);
• To send property tax return by post. In that case property tax return submission date is defined as date of sending by post;
Prescribed by the Georgia Revenue Service charge for accepting tax returns manually equals to 30 GEL. This charge does not extend to those tax returns which are not able to be filed electronically due to absence of sufficient software.  

Taxpayer breaking the due date for filing tax returns is subject to penalty of up to 5% of the tax amount not paid due date for each month or part of a month that the return is late (not full months are summed of up to one month). Simultaneously, the total amount of sanction for the whole period of delay shall not exceed 30% of the tax amount owed. If, according to tax returns filed and made calculations, the amount of tax liability equals to zero, then taxpayer is not subject to penalty.