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Sorry, but no. Taxes should be based on property value. I don't have much sympathy for people who can afford multi million dollar houses that increase in value, but I do feel sorry for people who live in up and coming neighborhoods who bought houses at a low price, but because of flippers and renovators, suddenly have their property taxes increased because of the new construction and/or renovations.

Concerning your example - if you have a nice property ,(and nice is the key word), that suddenly becomes worth considerably more and you don't want to pay the increased taxes, then sell for a very nice profit and smile all the way to the bank.

most places grandfather are you in when you buy the house, my friends aunt moved into the ghetto of LA back in the 1980s now it has been gentrified and a bunch of rich libturds moved in. While the new rich libturds pay ridiculous taxes on their props my friends aunts pays a reasonable amount similar to what a 1980s ghetto house would be. I too buy a house in 2018 for half price what it is today, my prop tax went up slightly but if were to rebuy my house today I would probably get totally fucked on it. Thats why I tell kids hustle hard when you are young and build that cash stack early because 1$ is worth more yesterday than it is today....

what if a house was a hundred years old?

Everybody bickers about this, that, and the other tax. No one likes taxes.

But real estate taxes? I think it would be easy to not bother "collecting" taxes every year, you make a system where every July 1 or whatever, the government (Fed, State, County) slaps a lien on the property and they own 1%. And next year 2%, and so on and so forth. The tax gets collected when the property is sold.

I know it's more complicated than that, but it seems better than what we do today.

Is this in CA I'm assuming.
When you buy a house in CA your tax basis is set based on your
original price. It is only allowed to go up no greater than 2%.
That is because of the Proposition 13 tax rules because people
were having to sell their houses and ending up homeless or broke
because property taxes were going up so fast in the 1970s'.
This makes inflation in general a kind of good thing for property
holders because once you pay off your house your economic
future is steady.
When or if the property gets sold the seller pays capital gains tax on the
sales price, and the new buyer inherits a new. usually higher tax
basis, and our normalized 2% rate of inflation helps the new buyer
as it did the old buyer.
You can't base tax on what the house is worth because the only way
to determine what a house is worth is when someone pays to buy it.

They're thinking about doing away with the Personal Property Tax where I live, mainly because you already pay tax on the item you purchased, so why should you have to pay tax on it again every year?? I hope they do

There's more to it than value. Property owners in working-class areas pay higher property taxes than those in rich areas. My local newspapers have been complaining about that for decades. This article explains the reason:
https://thehill.com/changing-america/respect/poverty/543000-huge-new-study-shows-homes-in-poor-areas-are-taxed-at-twice/