"...so you hold onto properties realistically valued at multiple millions while paying taxes at rate appropriate to tens of thousands." Doesn't that make the t

"...so you hold onto properties realistically valued at multiple millions while paying taxes at rate appropriate to tens of thousands." Doesn't that make the tax percentage very low when prices have risen so much? And in addition the percentage varies from unit to unit, even if they are identical in all aspects (including their value) except when it was last sold. What a weird system.