Greece imposes a harsh property tax

28 September 2011

The Greek parliament has passed a controversial property tax to help bail themselves out of a sovereign debt that stands at €350bn.

Over a thousand protestors took to the streets as the tax was approved to sting home owners up to €16 for each square metre of their home.

To ensure collection of the money it will be added to power bills and those who refuse to pay will have their power shut down.

Those who will get away without paying the tax include the unemployed with a total family income of less than €12,000 and a building worth less than €150,000.  Buildings that won’t be taxed include state offices, embassies and those belonging to charitable organisations.

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