What I didn't understand when I bought was that property taxes actually will make your mortgage payments go up. Mine went up about 1.5% after one year. I'm very curious what it will be this year, as property values have gone way up.
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.
On the other hand, I chose to manage my own taxes instead of having the lender escrow it for me, so I get to see them separately. It helps putting things in perspective.
It's the rare market where rents are set according to how much it costs to provide the rental, as that would be a market that is oversupplied, and most governments work hard to prevent that from happening. In supply-constrained markets, rents are set by what the market can pay, not based on how much property taxes are or interest rates for mortgages or maintenance costs.