Economy

in that in many areas, like mine, when an appraisal is done, the tax rate is automatically adjusted down to make it revenue neutral. Now if you and I both own homes, and my house value goes up less than yours, my taxes might go down while yours go up. The city does not get twice as much money if everyone's assessment doubles. It gets no more unless it raises the tax rate.

As to cities raising tax rates, don't forget that people want more services whether they are rich or poor. And inflation applies to city costs like labor, purchasing, insurance and maintenance too. For renters, those cost increases are bundled into rent increases.

We have always bought homes below what we can "afford" so that when costs rise or income goes down, we can afford them without being forced to sell and move, especially if it's a down market.