Greek parliament passes new property tax bill

AP News
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Posted: Sep 27, 2011 1:29 PM
Greek parliament passes new property tax bill

Greek lawmakers have passed a controversial new property tax bill that aims to boost revenue as the country struggles to meet its fiscal targets and gain approval for a critical installment of bailout loans that will prevent it from default.

A majority of deputies in the 300-seat Parliament voted in favor of the bill late Tuesday.

The new property tax was announced earlier this month, after the country's international debt inspectors suspended their review of Greek reforms amid talk of missed targets and delayed implementation. The inspectors are expected to return to Athens this week

Greeks have been angered with the extra property tax, which will be paid through electricity bills to make it easier for the state to collect. Those who refuse to pay risk having their power cut off.