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Status:
"Let this year be over..."
(set 25 days ago)
Location: Where my bills arrive
19,220 posts, read 17,102,322 times
Reputation: 15539
Quote:
Originally Posted by Floorist
Special tax districts always give the business a lower tax rate as an incentive to build. Most are eliminated after about 30 years. Since Disney was running their own taxing district, they could keep taxes at a lower rate than surrounding businesses. This actually should increase their taxes.
But aren't they unique in that they operate and maintain a municipality including but not limited to infrastructure, utilities, emergency services, environmental controls for their tax rate? How many other tax breaks afforded businesses are doing all of that.
If the state had said we are going to re-evaluate the existing arrangement and make adjustments to bring it in compliance with current law that would be the appropriate course of action. But this is political revenge pure and simple and this action has nothing to do with abuse or mismanagement of the Special District.
But aren't they unique in that they operate and maintain a municipality including but not limited to infrastructure, utilities, emergency services, environmental controls for their tax rate? How many other tax breaks afforded businesses are doing all of that.
If the state had said we are going to re-evaluate the existing arrangement and make adjustments to bring it in compliance with current law that would be the appropriate course of action. But this is political revenge pure and simple and this action has nothing to do with abuse or mismanagement of the Special District.
Most of them don't. Cities usually must provide police, fire and ambulance service.
Residents in two central Florida counties could be responsible for a large tax bill after Governor Ron DeSantis signed a measure that eliminates Walt Disney World's special improvement district.
On Friday afternoon, DeSantis signed into law a bill to dissolve the Reedy Creek Improvement District, a special district that came into existence in 1967 that allowed Walt Disney World to essentially self-govern, according to Reuters.
As a result, residents of Orange and Osceola counties, where Walt Disney World is located, could become responsible for the district's liabilities of between $1 billion and $2 billion, which could lead to potential double-digit tax increases for county residents.
On Wednesday, Florida's GOP-controlled state Senate passed a measure to remove the special self-governing status from Walt Disney World in that state by a vote of 23-16. On Thursday, the measure went to the House, where lawmakers voted 70-38 in favor of dissolving the Reedy Creek Improvement District.
Special tax districts always give the business a lower tax rate as an incentive to build. Most are eliminated after about 30 years. Since Disney was running their own taxing district, they could keep taxes at a lower rate than surrounding businesses. This actually should increase their taxes.
Correct! As I understand it, Disney was paying ZERO in taxes on their Kingdom. In exchange, they had to maintain their own roads and utility systems.
Now, with the ending of their special district, their buildings, property, and businesses will be taxed. This should bring in huge amounts of money to the state of Florida and especially the two counties where the properties are located. Rather than the change being a burden on the taxpayers of the two counties, it is likely that the change will be a boon to the counties in the form of additional revenue.
Residents in two central Florida counties could be responsible for a large tax bill after Governor Ron DeSantis signed a measure that eliminates Walt Disney World's special improvement district.
On Friday afternoon, DeSantis signed into law a bill to dissolve the Reedy Creek Improvement District, a special district that came into existence in 1967 that allowed Walt Disney World to essentially self-govern, according to Reuters.
As a result, residents of Orange and Osceola counties, where Walt Disney World is located, could become responsible for the district's liabilities of between $1 billion and $2 billion, which could lead to potential double-digit tax increases for county residents.
On Wednesday, Florida's GOP-controlled state Senate passed a measure to remove the special self-governing status from Walt Disney World in that state by a vote of 23-16. On Thursday, the measure went to the House, where lawmakers voted 70-38 in favor of dissolving the Reedy Creek Improvement District.
Yeah raising property takes and giving Disney a big tax break will definitely stick it the the libs I thought Republicans were against raising taxes?
You know all those sales taxes that Disney charged on everything? Yeah, those will go to the counties that Disney is located in now. You know all that property that Disney owns? Yeah, that will be taxed by the counties Disney is located in now. Disney just became one of, if not the, largest taxpayers in the state.
In short, there won't be a tax shortfall. If anything, the counties in which Disney resides will most likely be coming out ahead when it's all said and done.
Quote:
Originally Posted by gordo
The longer DeSantis is in power the more chance of a storm brewing. Once it does the corrupt DeSantis will be going down.
DeSantis is doing just fine by the state of Florida.
Quote:
Originally Posted by VA Yankee
But aren't they unique in that they operate and maintain a municipality including but not limited to infrastructure, utilities, emergency services, environmental controls for their tax rate? How many other tax breaks afforded businesses are doing all of that.
If the state had said we are going to re-evaluate the existing arrangement and make adjustments to bring it in compliance with current law that would be the appropriate course of action. But this is political revenge pure and simple and this action has nothing to do with abuse or mismanagement of the Special District.
The entire purpose of the Reedy Creek district was so that Disney could build a futuristic housing community on the land. They never did. Instead, they built Epcot. It's long past time that Disney pays "their fair share" of taxes.
This thread is quite long so I haven't read it in it's entirety. I apologize if this has been raised previously. I think there are some misconceptions about how the special tax district works. It isn't that Disney pays no tax. It does, Its is a self-governing district. And I've read that some estimate this move by the Florida legislature may cost taxpayers about $1 billion in transferred bonds and a loss of over $100 million a year in tax revenue. I hope it's worth the political points. https://www.cnbc.com/2022/04/21/disn...dissolved.html
if you haven't read the whole thread, where is the misconception about Disney paying taxes?
Yes, Disney essentially operates as it's own city through the Reedy Creek ID. When it needs to fund "police" or EMS or medical care or water/sewer or roads (much of it on their private property), then it determines how much it wants to spend and it taxes itself.
When the city of Orlando does it's annual budget, it essentially does the same through its' City Manager and City Council. A budget is developed, and they decide what the tax rate on property needs to be, increase water/sewer/trash fees to pay for improvements, etc.
The "town of Disney" - really Bay Lake and Lake Buena Vista - has effectively 0 residents (the number is under 100 if I'm recalling what I posted in this thread).
Residents in two central Florida counties could be responsible for a large tax bill after Governor Ron DeSantis signed a measure that eliminates Walt Disney World's special improvement district.
On Friday afternoon, DeSantis signed into law a bill to dissolve the Reedy Creek Improvement District, a special district that came into existence in 1967 that allowed Walt Disney World to essentially self-govern, according to Reuters.
As a result, residents of Orange and Osceola counties, where Walt Disney World is located, could become responsible for the district's liabilities of between $1 billion and $2 billion, which could lead to potential double-digit tax increases for county residents.
On Wednesday, Florida's GOP-controlled state Senate passed a measure to remove the special self-governing status from Walt Disney World in that state by a vote of 23-16. On Thursday, the measure went to the House, where lawmakers voted 70-38 in favor of dissolving the Reedy Creek Improvement District.
Yeah raising property takes and giving Disney a big tax break will definitely stick it the the libs I thought Republicans were against raising taxes?
So, which is it? Your subject line states Desantis just raised property taxes on a million Floridians Then you say "residents of Orange and Osceola counties, where Walt Disney World is located, could become responsible for the district's liabilities of between $1 billion and $2 billion".
Gotta love these scare tactics Dems are so quick in throwing out.
In addition to all of the other points I have made about the responsibilities that the municipality would actually have for Disney World properties, I just found out that Orange, etc., County would be able to create a Municipal Service Taxing Unit (MSTU) for the Disney Area in order to collect special taxes to help replace the revenues that Rock Creek now collects. Previously, Orange, etc., County couldn't do so as Rock Creek is an independent taxing authority, but they now appear to be able to do so. https://www.foxbusiness.com/politics...ocal-taxpayers
On another note, DeSantis has stated that the goal of this move will be to not increase taxes on individuals, even if that means changing the law again down the line to create new special districts that have more limited authorities than the Rock Creek district now has. Still, even if that doesn't happen, it wouldn't matter much to me.
You know all those sales taxes that Disney charged on everything? Yeah, those will go to the counties that Disney is located in now. You know all that property that Disney owns? Yeah, that will be taxed by the counties Disney is located in now. Disney just became one of, if not the, largest taxpayers in the state.
In short, there won't be a tax shortfall. If anything, the counties in which Disney resides will most likely be coming out ahead when it's all said and done.
DeSantis is doing just fine by the state of Florida.
The entire purpose of the Reedy Creek district was so that Disney could build a futuristic housing community on the land. They never did. Instead, they built Epcot. It's long past time that Disney pays "their fair share" of taxes.
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I thought Republicans were against raising taxes?
