Property tax is an emerging issue. There are movement to end property taxes or limit them across the US.

There is some opposite momentum toward the land value tax, which is a good thing, but these are less visible and likely weaker than a tax revolt by landowners.

Eventually, if the current trend continue for property taxes, we will see a disruption in government funding for basic service, and the contraction of the economy through increased taxation of economic activity to compensate for lost revenue from property taxes. It will be a disaster.

This is the endgame of the expansion of land ownership in the post WW2 era. Exemption from property taxes worsen this crisis.

Taxes going up for shittier and shittier return is unfortunately something we are seeing across the US. Regardless of ideological viewpoint, the relative advantages of just buying the services you need on your own rather than playing into a broken system will appeal to larger and larger subsets. I was in the majority "subset" until I was tired of being squeezed dry by a system that always squandered my tax money.

Maybe the government can be fixed, or even "must" be fixed for the sake of the poors that we always pretend we're thinking about (no doubt some are, but most are just using them as a prop for political persuasion), but in the meanwhile contingency plans must be made.