Your possession would be just as secure as it is today. If a huge city grew up around it, your property taxes would rise over time, and at some point, your single family home would be surrounded by skyscrapers, and no longer be using the land effectively. But if you were wedded to that house in that location, and had the funds to continue to pay your property tax, or your land value tax, you could stay forever. No one would stop you.

Occasionally one sees a diner in a skyscraper neighborhood. Under LVT, their incentive would be to find another place to conduct business, perhaps on the 1st floor of a taller building, and let the site be redeveloped to meet current needs.