I wonder if the US housing market crisis will result in changes to the property tax model?

I know the housing market problems are more of a US thing (but they're so very loud about it!) and I don't know if the property tax system works the same way there, but I'm just braindumping here.

I've never been comfortable with the property tax system. You pay tax that's proportional to the assessed value of your home, but you have no control over the value of your home. Sure, you can reasonably assume it's proportionate to your income upon purchase, but there could be a housing bubble and your assessed taxes could skyrocket while in the meantime you lose your job. People who disagree with me on this tend to argue that you can always access the value of your home (presumably by mortgaging it?) so if your house is worth more you are in fact richer and can in fact afford more taxes. This solution never seemed sustainable to me, but I've never been good at advanced financial management things like that. About all I can handle is I have $X in my bank account, so if the thing I want costs less than $X I can buy it.

But if I'm understanding correctly, this housing crisis thingy seems to be pointing out the very flaws of assuming that a person's property values can be used to calculate how much tax burden they can bear. Maybe they'll make a better system now? I don't mind income tax - after all, it cannot possibly be more than 100% of my income, unlike property tax. I don't mind consumption tax as long as they don't charge it on necessities (although I'd really rather they include it in the sticker prices), and they'd both make budgeting much easier than the current property tax model.