I'm assuming you mean a reduction in income taxes to offset the increase in property tax. This would still negatively effect retirees and others who don't make a lot of income and thus wouldn't have much income tax to offset.
That's where UBI (or "citizens' dividend", in Georgist parlance) comes in. Unless Grandma's living in a SFH in SoMa, she's probably gonna end up getting more in dividends and other public services than she'd pay in LVT.
