The law passed in the 300-member Parliament Saturday, with 152 lawmakers voting for and 143 against.
It consolidates previous taxes and replaces a property charge imposed in 2011, which was paid through electricity bills.
Immediately after the vote, Prime Minister Antonis Samaras said that a veteran lawmaker and former minister, Byron Polydoras, who voted against the law, has been expelled from the ruling New Democracy party.
The new law envisages that land plots over 1,000 square meters (10, 764 sq. feet) will be taxed for the first time.