A plan is in the works to create a special taxing district for the Downtown South district in Orlando that could help fund infrastructure improvements and increase the density allowed for development in the area — if voters sign off.
The Downtown South Neighborhood Improvement District would create a special taxing authority that could levy a property tax of up to 2 mils, or $2 for $1,000 in property value. Jason Burton, chief planner for the city of Orlando, said the tax would generate $325,000 per year at the 1 mil level and $650,000 per year at the 2 mil level.
That means, during the 15-year life of the district, it would provide $4.8 million to $9.7 million in revenue for infrastructure improvements, which means opportunities for businesses. It also could make it more attractive to build larger, denser developments and transit-oriented developments in the downtown south district.