in the US, local governments (counties, cities, school districts) rely heavily on property taxes because they have limited other revenue-raising powers. In the EU, the picture is almost the opposite: property taxes are a minor funding source, and national governments raise most of the money through labour, consumption, and income taxes. This makes quite difficult to grow old in USA in a sense that you cant just reduce your consumption and live of the savings. You need to move to cheaper area leaving all your life behind. Most important thing that you have at the end of your life. Your memories your friends and places that you are used to. So you need to keep working to be able to stay where you are.