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It applies a tax of 0.2 per cent on the value of homes worth between $3 million and $4 million, and a tax rate of 0.4 per cent on the portion of a home’s value that exceeds $4 million.

I'm ok with this. The money has to come from somewhere, the schools here are underfunded.
One of the reasons for this is overloading of large houses. Some large houses hold very large extended familys that burden the school system far more than regular familys, but without paying the same in taxes.
And the rest, well they have 3 million+ homes. Suck it up.

We wouldn't be in this mess if the Conservative Party had not decreased taxes on the wealthy. So retaxing them seems fair to me.