Property Owners Fear They’ll Foot The Bill For Orlando’s Growth

Feb 03, 2014 No Comments by

As the area just south of downtown Orlando grows rapidly, city officials want to be sure there’s enough money to cover infrastructure, aesthetic and transportation needs.

The reason: Projects such as Orlando Health’s $300 million expansion and the new SunRail stop there are expected to create pressure to redevelop other nearby areas.

That’s why the city plans to call a special referendum in May, specifically for property owners, who will decide whether or not to pay higher taxes to help pay for upgrades, reports the Orlando Sentinel.

However, some property owners are afraid they may be stuck paying for improvements they don’t want because the hospital and other large landowners in south Orlando have most of the voting power.

“The concern I have is the fact that we won’t have a say,” business owner John Law told the Orlando Sentinel. “It seems like they’re doing it, and it’s going to happen whether we’re on board or not.”

If approved, the city would raise taxes in the district by $2 per $1,000 value, on top of the $5.65 the city now levies. The maximum tax would raise about $750,000 a year for the next 15 years.

 

Source:  OBJ

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Industrial, Industry News, Land, Medical, Multi-Family, NA, Office, Retail
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