In many places in the US (California aside), property taxes are pegged against the assessed value of the home and re-assessed on a regular cadence. So the scenario you paint can definitely happen.
The way that property taxes work in California is more similar to Capital Gains in the US where your taxes are based on the sale price (although imposed continually, not just when a transaction occurs). The net effect of this is that you have neighbors with effectively identical homes who pay a full order of magnitude difference in property taxes every year (i.e. 2k vs 20k). [1]
The way that property taxes work in California is more similar to Capital Gains in the US where your taxes are based on the sale price (although imposed continually, not just when a transaction occurs). The net effect of this is that you have neighbors with effectively identical homes who pay a full order of magnitude difference in property taxes every year (i.e. 2k vs 20k). [1]
[1] https://www.officialdata.org/ca-property-tax/