You could be mixing up the non-residents tax and the Wealth Tax. The Wealth Tax was suspended for a few years (not abolished as some people think) but that is now back again. From 2010 all property owners are required to pay Wealth Tax (in addition to the non-residents tax) on a sliding scale ranging from 0.2% of the value of a 700,000€ property to 2.5% of the value of a multi-million euro mansion (the first 700,000€ is exempt).