The problem is that property value of homes has nothing to do with cost of building out city services. In many areas the value of homes is going up much faster than the cost of maintaining the roads and services around them.
Property taxes should be tied to things like acreage, road access, zoning type, and the city’s budget. Not the free market value of the home, which is unrelated.
Housing prices have gone up roughly double in the last 10 years, while inflation has only gone up 35%.
It is extremely unfair to single homeowners to be paying for the housing demand increase, and I say this as someone who’s only able to rent. Those property taxes get passed right along to me through rent increases.