The flat 1% already accounts for home size, doesn’t it? Big homes on big lots cost a lot more so you pay a lot more tax. If you buy a small 1,200 sq foot home on a 7,000 sq ft lot, you won’t pay a lot and your tax will be a lot smaller.
There’s no progressive property tax rate to make the buyer of the big home pay even more. It’s just a linear 1% of sale price. It’s the easiest property tax plan ever conceived.
Thanks for the clarification.
Had a buddy that lived in/near San Diego. I was a little surprised by how little he paid in property taxes, as I would have thought his bill would have been much higher. I’ll assume this is why.
Seems like a plan to me.