"The banking system is not what you think" - this phrase is truer than one would ever want to imagine.

Property tax used to make some sense, because the land was the source of your income. You grew food, or trees, or cattle. The land is what was taxed, just to make it easy to calculate.

Now, we don't tax the land, we tax the house. And it is not used as a source of income.
It really is a tax for daring to want to sleep under a roof.