There shouldn't be property taxes at all. It's asinine. Taxes for goods and services is more than enough. Not owning property, or the privilege of employment.

Wouldn't that be really regressive? A poor person's spending on goods is going to be a larger proportion of their income than a rich person's.

Admittedly, rich people could buy fancier goods which could be taxed more, but would that make up the difference?

Since tax is tied to the value of the property when the house loses value taxes go down.