ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The city of Orlando will consider opting out of a tax exemption for developments under Florida’s Live Local Act.
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Orlando City Council on Oct. 21 will take up whether it will back out of the middle-income affordable housing exemption program afforded by the act. The tax exemption allows for a 75% or 100% ad valorem tax exemption for developments, depending on the level of the rent charged by the owner of the units.
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The city said because Orange County has an “adequate” supply of housing at the 80% to 120% income level in the county, the city qualifies to opt out of the tax exemption.
Click here to read the full story on the Orlando Business Journal’s website.
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