They pay a proportionate share to represent what they are buying when they rent—use of the property, but no ownership appreciation.
The reason homes are hard to sell here is that they don’t appreciate; the taxes cause them to lose value. Someone who buys a house for $200K with taxes of $7K will be lucky to recover that $200K when they try selling it a few years later with taxes of $10K. When monthly property tax bills approach the level of rent payments, people prefer to just rent instead (and keep their mobility).