Unfortunately putting your taxes in escrow in effect has the same effect as not paying them at all, because the village has no access to the money.
It is an unfortunate situation and I can certaily understand your frustration, but it still does not relieve you of your personal tax liability. Your taxes are based on your personal property and are not a condition of the surrounding properties.
About the only thing you could really try at this point would be to:
1. Request a re-appraisal of your own property. Based on the fact that you have a home next to you which is in poor repair, that could very well also bring down the value of your own home and reduce your taxes.
2. Try filing a petition signed by others in your area to submit to your village council members. The fact that this home is owned by a big bank should have nothing to do with the fact that they are still reponsible for maintaining the property, and if enough people petition the village maybe something will get done.
But withholding tax payment would just put you in jeopardy of having a tax lien put on your home.
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