"Some documents that have been exposed in recent weeks have also shown what appear to be moves to scupper efforts by Italy’s interim technocratic government under Mario Monti to get the church to pay property taxes. The Vatican owns an estimated 20 percent of all real estate in Italy, and its tax bill is estimated to be about $100 million annually. Property owned by the Catholic Church is exempt from property taxes as long as the properties serve a religious function. That means hotels, schools, and other church property need only contain a chapel to be exempt from taxes".
Simply because a law says it is legal does not in and of itself make actions moral, ethical or conducive to higher spiritual values