After property prices collapse, then the property tax paid, also should collapse, albeit, probably not at the exact same rate due to the sentiment of local officials and taxing authorities saying "But how are we going to pay for this and that!"

Ya know, I would like to climb on that wagon too, but it looks like the folks pulling the wagon are having a really hard time. Right now, I'm walking on a trail next to the wagon. I may just go off on my own. (That's the analogy I am living since stepping out of the work force, at an age where I can collect social insecurity money).