Extraordinary property tax deemed uncostitutional

Almost three and a half years after it's implementation, the extraordinary property tax is still around, however mutated. It's no longer being collected via electricity bills, but it's certainly not “extraordinary” anymore. Now the country's supreme court, has ruled that the original form of the tax was unconstitutional.

This is the latest ruling from the two top courts in the country which puts the coalition government in a very tough spot. Last month, the Council of State ruled against pay and pension cuts for several public employees, implemented under the memorandum of understanding between Greece and the Troika.

With a majority of 3 votes to 2, the supreme court judges ruled the original tax was implemented based on each real estate's sizes and measurements and not on individual taxpayers' financial state. And given taxpayers have been through non stop taxation and loss of income due to the recession, the tax was unconstitutional.

Just as negotiations with the Troika on the economy's primary surplus are undegoing, finance minister Yannis Stournaras has to come up with measures, to course correct a series of potential tax returns springing from these supreme court rulings.