It's the opposite; it increases the percentage of owner occupiers. It reduces landlord/renters; see for example https://gameofrent.com/content/can-lvt-be-passed-on-to-tenan... or https://www.prosper.org.au/wp-content/uploads/2020/10/Prospe...

Most proposals for land value tax are also revenue neutral, so you essentially pay rent to society/government for the land you use, but keep more of your income.