Mardi Holding Georgia: Developer Profile, Projects and Portfolio

For Sale Apartments for sale in Georgia

• Price on request

For Sale Apartments for sale in Georgia

Novotel Living | Batumi | Georgia

• Price on request

Batumi, Georgia

• 28.1 - 79.4 sq. m.
• Apartment, Beach house

Details

1 year ago

1 year ago

For Sale Apartments for sale in Georgia

• Starting from $45,276
• Up to $235,641

For Sale Apartments for sale in Georgia

Mardi Hills | Batumi | Georgia

• Starting from $45,276
• Up to $235,641

Batumi, Georgia

• 26.95 - 112.21 sq. m.
• Apartment, Cheap Houses

Details

1 year ago

1 year ago

For Sale Apartments for sale in Georgia

• Asks from $86,100

For Sale Apartments for sale in Georgia

Mardi City Center Batumi: Status, Sizes and Prices (2026)

• Asks from $86,100

33 Pushkin Street, Batumi, Georgia

• 21.4 - 149.8 sq. m.
• Apartment, Cheap Houses

Details

1 year ago

1 year ago

For Sale Apartments for sale in Georgia

• Price on request

For Sale Apartments for sale in Georgia

Mardi Aquapark | Batumi | Georgia

• Price on request

Batumi, Georgia

• 31.4 - 41.75 sq. m.
• Apartment

Details

1 year ago

1 year ago

For Sale Apartments for sale in Georgia

• Starting from $83,000

For Sale Apartments for sale in Georgia

Mardi Stadium | Batumi | Georgia

• Starting from $83,000

Batumi, Georgia

• Apartment

Details

1 year ago

1 year ago

Mardi Holding Georgia: who the developer is and what it builds

Mardi Holding Georgia is the name we use for Mardi Holding, a Batumi-based group that develops residential, commercial and hotel-operated projects in Georgia. According to the developer’s own website, mardi.ge, the group was established in January 1991 as LLC Imeri, moved into real estate development in 2010 and 2011, and today presents a record of 17+ completed projects, 5,000+ built apartments, 300k+ m² developed and 35+ years of experience. Its project pages describe six current schemes in Batumi: Novotel Living Batumi, Mardi Hills, Mercure Aquapark Batumi, Aquapark Residence, Mardi City Center and Mardi Stadium. That is why Mardi Holding Georgia has its own profile in our Georgia developers section.

Three of the six projects carry the name of an international hotel brand, and it helps to separate the roles from the start. Novotel Living, Mercure and Handwritten Collection are brands of the hotel group Accor, which announced cooperation agreements with Mardi Holding in 2023 and acts as brand owner and hotel operator for those buildings. Mardi Holding is the developer named on the project pages. Everything in this profile about the company, the buildings and the way the units are sold comes from the pages of mardi.ge and from the press releases listed at the end, and each figure is attributed to the page that prints it.

Our site carries five listings for Mardi Holding Georgia, all in Batumi: Novotel Living, Mardi Aquapark, Mardi Hills, Mardi Stadium and Mardi City Center. Our Mardi Aquapark listing corresponds to the project the developer names Mercure Aquapark Batumi. The developer’s Completed projects page also lists apartment buildings in Batumi, Tbilisi and Bakuriani that are not on our site, and this profile sets them out as a neutral chronology so a reader can see the full record in one place.

The page follows the order in which a buyer usually asks questions: the company and its group, a table of key facts, the projects one by one, a summary table, the portfolio from the developer’s Completed projects page, the way a purchase from the developer works, the Georgian rules on ownership, registration, tax and residence, a list of key facts, a comparison table with other Georgia developers we profile, a checklist for reservation day and a set of frequently asked questions. Everything was checked on 13 November 2026. For the market around the projects, see our Georgia country page, our Batumi city page and the Real estate developers in Georgia hub.

Mardi Holding Georgia at a glance

Company, ownership and group behind Mardi Holding Georgia

The developer’s About Mardi Holding page says the company was established as LLC Imeri with private capital in January 1991. Its early activities were import-export and brokerage, with a focus on food and general goods. The page names Irakli Turmanidze as founder and chief executive. It then follows the group through a series of businesses: wood and manufacturing activities from 2001, the transport company Mardi World in 2008, a tobacco and cigar line in the same year, and the Adjarian Wine House in 2010. In 2010 and 2011 the page places the group’s entry into real estate development, with an early Batumi project built using foam concrete technology. Mardi Holding Georgia therefore describes a group that began as a trading company and has concentrated on property for roughly the last fifteen years.

Several legal entities appear on the page for the property side. LLC Tbilisi House is dated 2012 to 2015 and is described as a building of 9 floors with an attic. LLC Old Batumi is dated 2014 to 2017 and is described as a building of 15 floors with a terrace. These names matter in practice, because a sale contract is signed with the company named in the reservation paperwork, and a Georgian developer often builds each project through a separate company. The page does not say which company sells each current project, so the contract itself is the document that names the seller.

The developer’s home page and its menu list a family of ventures beside the property business: Mardi Comfort, Mardi Energy, Mardi Capital (with its own website, mardicapital.ge), the Adjarian Wine House (awh.ge), TravelLab (travelab.ge) and Cigar (cigar.ge). The footer of the same pages names Mardi Investment at mardiinvest.ge. According to the Mardi Stadium page, the apart-hotel in that building is managed by Mardi Holding Comfort, so the hospitality management side of the group is part of how some of the buildings operate.

The developer’s team page lists departments rather than owners. It names a sales and business development team for private buyers, a division for Asia and China, a division for the CIS countries, technical staff and a project manager, a finance department headed by a chief financial officer, a legal department, marketing, and an after-sales department with three managers. The same page lists a deputy chief executive and chief operating officer. For a buyer this structure is useful in one way: the developer lists after-sales as a named function, and its contact form offers the subjects “Contract terms – Post sale” and “Payment status / Project progress – Post sale”.

On the hotel side, Accor and Mardi Holding signed cooperation agreements that were announced in three press releases during 2023. The release of 5 June 2023 covered Novotel Living Batumi, the release of 30 November 2023 covered a Handwritten Collection hotel, and the release of 21 December 2023 covered a Mercure. The December release states that this was the third project signed by the two companies and describes Mardi Holding as a Georgian development company. Accor’s own boilerplate in those releases gives its scale and its brand portfolio, which is useful context but is not a statement about Mardi Holding.

Mardi Holding Georgia projects we list, Batumi

All five listings of Mardi Holding Georgia are in Batumi, the capital of the Autonomous Republic of Adjara on the Black Sea coast, about 350 km from Tbilisi according to our Batumi city page. Unit counts, sizes and prices below are shown as printed by the source named in each sentence. The developer’s project pages give addresses, amenities and brand roles. Where a size or price comes from our own listing page and not from mardi.ge, the text says so.

Novotel Living Batumi

Novotel Living Batumi is a hotel-operated apartment project. The developer’s page says it “will open on Iberia Street in the recreational area of Batumi” and gives the address as Tamar Mepe Avenue 62, Batumi 6010, near a private beach and about 15 minutes from the city centre. The page names Accor as operator under the Novotel brand and Mardi Holding (Mardi Development) as developer. Amenities listed by the developer are co-living spaces, a gastronomic restaurant, a 24-hour lobby bar, a recreation area with an infinity pool, a rooftop restaurant with sea and mountain views, a spa, a fitness centre, conference rooms, a children’s playground and daily animation programmes. It names Petra Fortress, Batumi Botanical Garden and Mtirala National Park as nearby sights.

The Accor announcement of 5 June 2023 adds the building description: a new structure with two blocks of 13 floors each and 319 apartments, ranging from executive studios to two- and three-bedroom suites. The same release describes a “strata title” concept in which rooms are owned and rented out while the hotel operator manages the infrastructure. Our listing page shows apartment sizes from 28.1 to 79.4 m² and a price shown as price on request. Because the project is hotel-operated, the sale contract and the NAPR extract are the documents that state what exactly is registered for a unit and how the operator’s services are arranged.

Mercure Aquapark Batumi and Aquapark Residence

The developer lists two pages for the aquapark site: Mercure Aquapark Batumi, shown under the Mercure brand, and Aquapark Residence. Both give the address Ahalgazrdobis 3, Batumi 6010 and describe a project that “will open” on the Black Sea coast within walking distance of a beach. The amenities printed on both pages are three gastronomic restaurants with wellness-inspired menu sets, two bars and a BBQ area, a spa centre, a fitness centre, tennis and basketball, a kids’ area, several swimming pools, a large on-site water park and several conference rooms. The pages name Batumi Botanical Garden as a nearby sight. Our own Batumi page places the Makhinjauri zone in the city’s district list.

The Accor announcement of 21 December 2023 describes the hotel as a new Mercure with 308 rooms, including apartments with kitchenettes, within walking distance of a private beach, a 5-minute drive from Batumi Botanical Garden and a 15-minute drive from the city centre. It adds a free shuttle to hot springs 5 minutes away and the ALL – Accor Live Limitless loyalty programme. Our Mardi Aquapark listing shows sizes from 31.4 to 41.75 m² and a price on request. The completed projects page of the developer lists “Aquapark Residence” with the year 2021 and the text name “Mardi Twins”, and it lists the Mercure Aquapark Batumi entry beside it without a year.

Mardi Hills Batumi

Mardi Hills is shown on mardi.ge under the Handwritten Collection brand, at Kadir Shervashidze 24b, Batumi 6010. The developer’s page says the complex “will occupy 80,000 square meters” and lists rooms and suites, a fitness centre, a gastronomic restaurant and meeting spaces. It places the site 20 minutes by car from Batumi International Airport and 10 minutes from the Central Railway Station, near Batumi Boulevard, which the page describes as 7 kilometres along the Black Sea coast.

The Accor announcement of 30 November 2023 describes the Handwritten Collection hotel as a new building with 197 rooms, including suites, on the same 80,000 m² site, and states a 2026 opening target in that release. Handwritten Collection is an Accor brand that the release introduces to the South Caucasus. Our listing page for Mardi Hills prints a starting price of USD 45,276 and sizes from 26.95 to 112.21 m², with a top price of USD 235,641 for the biggest unit. These are the figures on our listing page and the developer’s project page itself prints no price.

Mardi Stadium

Mardi Stadium stands at 27 Tbel-Abuseridze Street, Batumi 6010, directly in front of the football stadium, in an area the developer calls the heart of new Batumi. The page describes a modern-style apartment building with a view of the sea and an apart-hotel on floors 11 to 16, managed by Mardi Holding Comfort. The developer’s Completed projects page lists Mardi Stadium with the year 2024. Our listing page prints a starting price of USD 83,000.

Mardi City Center

Mardi City Center is described by the developer as a modern multifunctional residential complex at Pushkini 33, Batumi 6010. The page gives 20 floors in 3 buildings with separate entrances, a 4-storey shopping centre inside the building, underground parking for 60 cars, a terrace and panoramic city and mountain views. It says the site is 600 metres from the sea and deep in a residential sector, five minutes from the city’s active area. Our listing page shows apartment sizes from 21.4 to 149.8 m².

Mardi Holding Georgia projects summary table

The table gathers the five listed projects in one place. Cells show what the developer’s project page or the Accor release prints, with our listing page named where it is the source. A dash means the source named in the column header gives no figure.

The developer’s FAQ describes the unit types it sells as studio, one-bedroom and two-bedroom apartments, in three view categories: panoramic sea view, direct sea view and partial sea view. The FAQ is general and is not tied to one building, so we show it here as a description of the range and not as a unit list for any single project.

Portfolio and track record of Mardi Holding Georgia

The Completed projects page of mardi.ge is the developer’s own record, and it lists 17 entries. Six of them are the current projects described above. The other eleven are apartment buildings in Batumi, Tbilisi and Bakuriani, shown below with the year, floor count and other details exactly as that page prints them. Not every entry prints every field, and a dash means the page gives none. The group’s About page also describes a company history that began before these buildings, so the two pages are read together: the About page tells the story of the group, and the Completed projects page lists the buildings.

Read as a chronology, the page shows buildings in Batumi from 2013 and in Tbilisi from 2015, a mountain building in Bakuriani in 2019, and from 2021 the larger resort and hotel-operated schemes that run to the current projects. The developer’s counters give the totals for the whole record: 17+ completed projects, 5,000+ built apartments and 300k+ m² developed. The developer’s FAQ adds that the record includes over 15 projects in Batumi, one aparthotel in Tbilisi and one in Bakuriani, and describes the portfolio as residential complexes, hotels, commercial spaces and mixed-use developments.

The About page also lists, for 2023 and 2024, the introduction of Batumi Hills, Novotel Living Batumi (with Accor) and the Mardi Aquapark Wellness Resort. The home page and the Future Projects page name further schemes that are marked as upcoming: Mardi Residential in Batumi, the Georgian Mountain Resort described as a wellness retreat with mountain views, Batumi Business Bay, Mardi Wellness, Cube Tower, Saguramo Gardens and a regional expansion into the GCC. These carry no dates or figures on the developer’s pages, so they are named here for completeness and not described further.

Batumi is the town where Mardi Holding Georgia concentrates its current work, and some market context from our Batumi page helps place the projects. The page records 246,267 residents on 1 January 2026 according to Geostat, and Batumi International Airport handled 951,760 passengers in 2024 according to its operator. The Galt & Taggart report cited there gives an average primary-market turnkey price of USD 1,960 per m² in 2Q26, and USD 1,983 per m² for the Makhinjauri zone, where the aquapark address lies. Those are market statistics for the city and the zone and are not prices for any Mardi unit. For the Tbilisi and Bakuriani buildings, we have no listings, so our city pages are not linked for them.

How buying works with Mardi Holding Georgia

The developer’s home-page FAQ is the main published description of its sales terms. It says Mardi Holding offers an interest-free instalment plan of up to 36 months with a 30% down payment, and a 5% discount for a single payment. It describes two delivery conditions common in Georgia. White frame means the basic structure is in place, with floor and wall cement screed, electrical wiring, plumbing and heating pipes, and no cosmetic finishing. Turnkey means a fully finished apartment with furniture and appliances. The FAQ does not say which condition applies to which project, so the reservation paperwork for the specific unit is the place where the finish is stated.

On documents, the FAQ separates two cases. With the internal instalment plan, a purchase agreement is concluded in which the buyer is named as the future owner, and the developer registers it in the public register when the deposit reaches 50% of the value. With a single payment, the buyer becomes the owner and the developer registers the agreement in the public register. For a foreign citizen the FAQ lists a passport and a document confirming the amount payable under the agreement, and it says the agreement is prepared in two languages, Georgian and the buyer’s preferred language, both of which the developer says hold legal force. The FAQ adds that a foreign citizen can buy without travelling to Georgia. The sale contract itself states which text governs, so it is worth reading both versions against each other before signing.

This fits the sequence set out in our how to buy property in Georgia guide. The steps there are: check the property through a Public Registry extract from the National Agency of Public Registry (NAPR); sign a pre-purchase agreement, used mainly for off-plan and instalment sales; review the seller’s documents; sign the written sale contract before a notary or before an authorised person at the registration authority; pay by bank transfer as the contract states; lodge the registration with NAPR; and obtain a fresh extract showing the buyer as owner. The guide notes that a written contract is required under Article 183 of the Civil Code and that pre-registration of an agreement for a building under construction is possible.

The state fees in the guide are specific. NAPR’s page for extracts, which we re-checked on 13 November 2026, lists an extract at GEL 20 for one working day or GEL 75 on the same day at the counter, GEL 13 or GEL 52 when requested online, and an additional GEL 26 for an English version. The guide gives registration of a change of right as GEL 150 in 4 working days, GEL 270 in 1 working day and GEL 350 on the same day, plus GEL 7 for signature confirmation. These are state charges and exclude notary, translation, legal and bank costs. The guide also notes that Georgia has no transfer tax or stamp duty, that 18% VAT applies where the seller is VAT-registered, and that, under Article 479 of the Civil Code, the seller bears contract and registration costs unless the contract says otherwise.

Because several Mardi Holding Georgia projects are hotel-operated, one further point is practical. The Accor release for Novotel Living describes a strata title concept, with rooms owned individually and the operator managing the shared infrastructure. For a unit in such a building, the sale contract and the NAPR extract show the registered object, the area and any restrictions, and the operator’s services are usually set out in a separate agreement. A buyer who wants the arrangement explained can ask the developer to point to the clauses that cover it.

The developer’s page does not describe an escrow mechanism, so our profile does not either. Payments follow the schedule in the contract: the guide notes that domestic payments are settled in lari at the National Bank of Georgia rate on the payment date, and that cash above GEL 30,000 must be declared on import or export according to the Revenue Service. Buyers who prefer bank financing can read our mortgage in Georgia for foreigners guide, which describes the National Bank rule effective 1 July 2026 that loans below GEL 1,000,000 are in lari unless the borrower’s income is in the loan currency, and the loan-to-value limit of 80% for borrowers earning income abroad.

Ownership route, registration, tax and residence rules for Mardi Holding Georgia buyers

Our can foreigners buy property in Georgia guide explains that, under Article 32(1) of the Law on the Legal Status of Aliens and Stateless Persons, foreigners may own, inherit and bequeath property in Georgia, and that the restriction in the Organic Law on Agricultural Land Ownership concerns agricultural land. Apartments and hotel-operated units in Batumi are non-agricultural property, so a foreign buyer needs no residence permit and no minimum price to own one. The Public Registry’s recorded category, not the marketing description, determines whether a restriction applies, which is why the NAPR extract with its cadastral code is the key document to read for any unit.

Ownership becomes effective through two steps: a written sale contract and the registration of the buyer’s right in the Public Registry. The developer’s FAQ describes registration of the agreement once the deposit reaches 50% under the internal instalment plan, and the guide describes the Article 12 pre-registration route for buildings under construction. Either way, the buyer’s right is recorded at NAPR, and the extract shows the buyer’s name, the registered area and the cadastral code. The NAPR fees and terms page lists the extract tariffs.

Property tax follows our property tax in Georgia guide. Under Law No. 1874 of 30 September 2026, a natural person’s property other than land is exempt from the annual property tax if the family’s income in the previous year did not exceed GEL 100,000. Above that level the Tax Code sets a rate of 0.8 to 1 percent of the market value at the end of the previous year. The Revenue Service page confirms that the return is due by 1 November and payment by 15 November, and that its calculator asks whether combined family income in the previous year was above or below GEL 100,000. The guide notes that the 2026 declaration is the one affected by the change.

Residence is a separate question from ownership. The residence permit in Georgia guide explains that since 1 March 2026 the short-term residence permit by property requires non-agricultural immovable property with a market value above USD 150,000 equivalent in GEL, valued by an accredited appraiser and not by the contract price. The guide describes the permit as temporary and renewable, with a spouse and minor children able to join on the same property, and states that owning property does not grant a permit: it is a separate application through the Public Service Development Agency (SDA). The SDA publishes the application procedure on sda.gov.ge. For buyers of any Mardi Holding Georgia unit the conditions are those of the law, applied to the appraiser’s value of the registered property, and no project gives residence by itself.

Key facts about Mardi Holding Georgia

• Mardi Holding says it was established as LLC Imeri in January 1991 and entered real estate development in 2010 and 2011, according to its About page.
• The developer’s counters read 17+ completed projects, 5,000+ built apartments, 300k+ m² developed and 35+ years of experience.
• The developer’s Completed projects page lists 17 entries in Batumi, Tbilisi and Bakuriani, from Mardi House at Gorgasali (2013) to Mardi Stadium (2024).
• Six current projects are shown on mardi.ge, all in Batumi, and our site lists five of them.
• Accor is the brand owner and operator named for Novotel Living, Handwritten Collection and Mercure; Mardi Holding is the developer.
• Accor announced the three cooperation agreements on 5 June, 30 November and 21 December 2023.
• The developer’s FAQ gives an interest-free instalment plan of up to 36 months with a 30% down payment, and a 5% discount for a single payment.
• Delivery conditions named by the developer are white frame and turnkey.
• For foreign buyers the developer lists a passport and a document confirming the amount payable, and bilingual agreements in Georgian and the buyer’s language.
• Prices on our listing pages are USD amounts; we show them as printed and do not convert them.
• The property-based residence permit threshold is USD 150,000 from 1 March 2026, on an accredited appraiser’s valuation.

Mardi Holding Georgia and other Georgia developers

Batumi has a number of developers with projects we list, and the profiles below cover them in the same format. The table shows counts and websites so that each developer can be read on its own terms, and the details of each are on the linked profile.

The complete list of developers we profile in Georgia is on the Real estate developers in Georgia hub.

What to prepare when reserving with Mardi Holding Georgia

Reservation in Georgia follows a standard sequence, and the items below are the documents and details that are normally exchanged at each step.

• A valid passport, which the developer’s FAQ lists as the identity document for a foreign buyer.
• The reservation form for the named unit, giving its number, floor, area and finish condition (white frame or turnkey).
• The sale contract, or the pre-purchase agreement used for an instalment sale, showing the seller company, the price, the delivery date and the payment schedule.
• A document confirming the amount payable under the agreement, as described in the developer’s FAQ.
• The Georgian text and the translated text of the agreement, read side by side.
• A fresh NAPR extract showing the registered owner, the land category and the cadastral code, requested online or at the counter.
• The payment schedule and the bank details in the contract, with the payments made by bank transfer as the contract states.
• For a hotel-operated unit, the operator agreement or the clauses that describe the operator’s services.
• Tax details if needed: the annual property tax return is due by 1 November and payment by 15 November, and the family-income exemption applies as described above.
• For a residence-permit application, an accredited appraiser’s valuation and a Public Registry extract proving ownership.

Frequently Asked Questions

Who is Mardi Holding and where is it based?

Mardi Holding Georgia refers to Mardi Holding, a Batumi-based development group. Its About page says it was established as LLC Imeri in January 1991, and its property projects carry the Mardi name. The developer prints project addresses on mardi.ge and no head-office address.

Which projects does Mardi Holding show on its website?

Mardi Holding Georgia shows six current projects on mardi.ge: Novotel Living Batumi, Mardi Hills, Mercure Aquapark Batumi, Aquapark Residence, Mardi City Center and Mardi Stadium. All six are in Batumi. We list five of them, because Mercure Aquapark Batumi and Aquapark Residence share an address and our listing is named Mardi Aquapark.

What is the role of Accor in these projects?

Mardi Holding Georgia works with Accor as the brand owner and operator of the Novotel Living, Handwritten Collection and Mercure hotels, according to Accor’s 2023 announcements and the developer’s pages. Mardi Holding is the developer named on the project pages. Novotel, Mercure and Handwritten Collection are Accor brands.

What payment plan does the developer state?

Mardi Holding Georgia states on its FAQ an interest-free instalment plan of up to 36 months with a 30% down payment, and a 5% discount for a single payment. The FAQ does not tie the plan to one project, so the terms for a given unit are the ones in its reservation paperwork and contract.

What do white frame and turnkey mean?

Mardi Holding Georgia describes white frame as a unit with the basic structure in place, including floor and wall cement screed, electrical wiring, plumbing and heating pipes, and no cosmetic finishing. Turnkey is a fully finished apartment with furniture and appliances. The finish of a specific unit is stated in its contract.

Can a foreigner buy a Mardi apartment in Batumi?

Mardi Holding Georgia units in Batumi are non-agricultural property, which foreigners may own under Georgian law, as our guide to buying property in Georgia explains. The developer’s FAQ lists a passport and a document confirming the amount payable as the documents for a foreign buyer, and says a foreign citizen can buy without travelling to Georgia.

Which taxes and fees apply after a purchase?

Mardi Holding Georgia buyers face the same rules as other owners. Registration at NAPR costs GEL 150, 270 or 350 depending on the speed chosen, according to our guide, and there is no transfer tax. Annual property tax is exempt where family income in the previous year did not exceed GEL 100,000, and is 0.8 to 1 percent of market value above that level.

Does buying a Mardi unit give residence in Georgia?

Mardi Holding Georgia projects do not give residence by themselves. The short-term residence permit by property requires non-agricultural property valued above USD 150,000 equivalent by an accredited appraiser, from 1 March 2026, and it is a separate application to the SDA. Our residence permit guide sets out the conditions.

Where can I see the developer’s earlier buildings?

Mardi Holding Georgia lists its earlier buildings on the Completed projects page of mardi.ge, with 17 entries in Batumi, Tbilisi and Bakuriani from 2013 to 2024. The table in this profile reproduces the years, floors and other details as that page prints them.

Last checked: 13 November 2026. Sources: mardi.ge home page and FAQ, About Mardi Holding, Completed projects, Novotel Living Batumi, Mardi Hills, Mercure Aquapark Batumi, Aquapark Residence, Mardi Stadium, Mardi City Center, Our Team, Future Projects, Accor and Mardi Holding, Novotel Living Batumi (5 June 2023), Accor, Handwritten Collection in the South Caucasus (30 November 2023), Accor and Mardi Holding, Mercure Batumi (21 December 2023), NAPR fees and terms, Revenue Service property tax, SDA.