If you bought a property (as a second home) for £1,000,000 you would you pay 3% on the first £125,000 (3,750), then 5% of the next £125,000 (6,250), then 8% of the next £675,000 (54,000), and finally 13% of £75,000 (9,750)(Only 13% of £75,000 because you have already calculated £925,000 in the other tax bands).
£3750 + £6250 + £54,000 + £9,750 = £73,750 in stamp duty for a £1m 2nd home (Effectively 7.4% of £1,000,000).
If you bought a property (as a first home) for £60,000, you would pay £0 in tax duty (0% of £60,000).
If you bought a property (as a second home) for £60,000, you would pay £1,800 (3% of £60,000).