[epistasis]

Property taxes are a small fraction of a mortgage payment though. When property values go up, rents usually go up a similar amount, and renters eat all that cost. However homeowners housing costs go up a tiny fraction compared to renters.

[shados]

If by a small fraction you mean 20, 30% or more (and higher if your home appreciated a lot since you bought it), then yeah, sure.

My taxes are about 25-30% of my mortgage payment (after a massive residential exemption, too), and if you have a slightly more expensive than average home in a low cost area (so things like school taxes will be higher to raise a similar amount of money per child), it can get reaaaaally expensive.