This is the correct answer. The effect is as follows, currently: 1) Elderly who bought early pay low tax, elderly who bought recently pay high tax 2) Younger

This is the correct answer. The effect is as follows, currently: 1) Elderly who bought early pay low tax, elderly who bought recently pay high tax 2) Younger people who are also rich pay high tax, but can afford it, and it is proportional to the amount of services they are receiving 3) Younger people who cant afford these property taxes are priced out of the area.