Tax experts and legislators say eliminating the district could have unintended consequences for county taxpayers. Disney's special tax district status allows the company to levy an additional tax on itself to pay for municipal services, something that other counties cannot do. That tax currently amounts to $105 million per year, said Orange County tax collector Scott Randolph. Reedy Creek also receives additional revenue of nearly $60 million from Disney to pay its bond debt.
Sunsetting Reedy Creek means that local counties will begin paying for those services without that special status in place. Taxpayers will likely be left to foot the bill for pot holes and emergency services. The counties would also absorb Reedy Creek's debt. The district historically operates at a loss of around
, according to its financial reports. But since Disney can subsidize its own operations with theme park revenue, that debt doesn't have much impact on its bottom line.that taxpayers would become responsible for should the special district get absorbed, leading to higher taxes. And salvaging those budgets won't be easy. State law prohibits counties from raising sales taxes or impact fees to cover costs, and they must tax all areas of the county equally. So, whatever they enact will apply to everyone.
DeathSantis has no idea how to govern a state, but he’s making a really good attempt at outdoing his dictatorial, bullying, mentor as he tries to be the next wacky right wing candidate. Every law he’s advocated goes to that purpose, not the good of Fl
RIP Florida
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Florida state Senate passes bill that would eliminate Walt Disney World's districtThe dispute between Republican Gov. Ron DeSantis' and The Walt Disney Company continued to play out in public on Wednesday. The pettiness and crookedness knows no ends Hopefully Disney will start the move out of Florida. Good job, Florida. 👏
Source: ABC - 🏆 471. / 51 Read more »
Florida Governor Ron DeSantis Signs Bill Repealing Disney’s Special District For Walt Disney World — UpdateUPDATE, Friday, 12:33 PM PT: Florida Governor Ron DeSantis signed legislation that strips The Walt Disney Co. of a special district that covers Walt Disney World, after the company came out publicl… omg im moving to Polisland, CO Disney could then make Floridians pay a surcharge to get into the park Can Trey McBride play NFL Football in Florida?
Source: DEADLINE - 🏆 109. / 63 Read more »
Florida Gov. Ron DeSantis pushes to end Disney self-governmentFlorida Gov. Ron DeSantis is asking the Legislature to repeal a law allowing Walt Disney World to operate a private government over its properties in the state. Did he write this lead himself or did you go all the way to Sinclair? FFS, 'private government'? Communism. More like cult
Source: 6abc - 🏆 250. / 63 Read more »
DeSantis vs. Disney: What's Next After Florida Gov. Signs Bill to End Self-GovernmentFlorida Gov. Ron DeSantis on Friday signed a bill to dissolve Walt Disney World’s private government that provides municipal-like services for its 27,000 acres in the Sunshine State. The media & twitter class are distorting reality! GovRonDeSantis is protecting our Pre-k through 3rd grade so that why will not be exposed to sexual deviants teaching them about oral sex. Disney CEO Bob Chapek ok with teaching Pre-K to grade 3 Kids about oral sex? - Pervert! Walt’s turning over in his grave.
Source: nbcsandiego - 🏆 524. / 51 Read more »
Florida Senate passes bill to end Disney self-governmentThe proposal could have huge tax implications for Disney, whose series of theme parks have over the decades transformed Orlando into one of the world’s most popular tourist destinations.
Source: WTVYNews4 - 🏆 590. / 51 Read more »
Years of fruitful relations between Disney, Florida at riskORLANDO, Fla. (AP) — The idea was presented to Florida lawmakers in a movie house outside Orlando 55 years ago, with Walt Disney, who had died less than two months earlier, helping make the pitch from the screen: Let Disney form its own government and in exchange it would create a futuristic city of tomorrow. Corporations shouldn't have influence over public laws, especially Disney. Smaller government says the GOP. They fought and got companies power and money in exchange for the donations. Now a company disagrees and they're the villain?
Source: AP - 🏆 728. / 51 Read more »