Unlike some others, I personally like the property tax system.
It’s not a high amount, and the tax itself can be changed by the governing company of the territory. You can choose to not pay it if the governing company raises it too high and then affecting that source of income.
The first house discount system is great(when it works), it would also be great if you could get a smaller discount(10-15%) on a house if you are a member of the faction. One thing that does need to be adjusted is the “weekly” rate for the taxes. I should not have to pay taxes every 5 days, I should have to pay taxes every 7 days.