One of my observations is that the cost of buying a house for most people has several components, capital costs, financing costs, taxes, and insurance. One assumes that if you increase property taxes that cuts into the amount that can be financed, which reduces the amount that can be financed, which means the price has to come down.
Difference between mortgage interest in a world of global finance and property taxes is property taxes pay for local services, where mortgage interest ends up who knows where. But it isn't paying for your communities roads, transit parks or schools, police and fire.
