What it means to the average property owner is that property taxes rise until they can’t afford their home. A similar thing happened to a friend of mine in Phoenix. She had to sell the house she grew up in because the neighborhood gentrified.
My house is paid for but I’m living on SS. As my taxes keep rising, my discretionary money has decreased to the point of I’m just getting by. I can’t sell because everything else is absurdly high. If I moved to a cheaper locale (out in the sticks), medical is too far away.