I agree that's a concern. I don't know the answer.

Of course any government can jack up taxes, and some may use LVT as an excuse. That's already a problem. But the _ideal_ LVT replaces property tax. So I'm skeptical that LVT will be a large exacerbating factor.

The real problem is that gentrification drives up demand, and that's baked into the premise - and necessarily precedes any LVT uprating. I expect LVT's contribution to the problem to be marginal. More data needed.