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Started By
Message
re: FL taxpayers to absorb over 1 billion in bond obligations due to Disney exemption repeal
Posted on 4/21/22 at 8:32 pm to GetCocky11
Posted on 4/21/22 at 8:32 pm to GetCocky11
Why can’t they just make Disney pay it
1
Posted on 4/21/22 at 8:32 pm to lsupride87
quote:And guess who is about to become one of those local taxpayers? Disney. Osceola and Orange Counties would get a yuge boost in local/property tax revenue from Reedy Creek district being disolved, so the counties can afford to absorb those bonds and pay them off with their new Disney tax base
The district has about a billion dollars in outstanding bonds that need to be dealt with. That burden, as state lawmakers admitted, will fall on local taxpayers.
This post was edited on 4/21/22 at 8:33 pm
Posted on 4/21/22 at 8:33 pm to Centinel
quote:These are from Republicans and supporters of the bill, BTW
“The procedures that we have will transfer that indebtedness to the general-purpose local governments,” said Sen. Jennifer Bradley (R–Clay County), the bill’s sponsor in the Florida Senate.
The billion dollars in bonds that Reedy Creek holds will mature as late as 2036. About 20% are revenue bonds, which will be backed by payments for services like utilities. The remaining 80% are general obligation bonds, backed by faith and credit in the district, which is on the verge of dissolution.
“If Reedy Creek goes away, the $105 million it collects to operate services goes away,” wrote Orange County Tax Collector Scott Randolph. “That doesn’t just transfer to Orange County because it’s an independent taxing district. However, Orange County then inherits all debt and obligations with no extra funds.”
Under state law, Orange County is not allowed to tax Disney extra unless it creates a new special district for Disney. However, to do this, the county would need the property owners inside of Disney (the company) to agree to take back the debt.
All in the article y’all are claiming is a “hit piece”. It’s just the “facts piece”
Posted on 4/21/22 at 8:33 pm to Tiger Prawn
quote:
And guess who is about to become one of those local taxpayers? Disney. Osceola and Orange Counties would get a yuge boost in local/property tax revenue from Reedy Creek district being disolved, so the counties can afford to absorb those bonds and pay them off with their new Disney tax base
This
Posted on 4/21/22 at 8:34 pm to Swagga
quote:
Yes, but now that the tax exemption is lifted the district will take in millions in taxes from their newest taxpayer (Disney). It’s a half written article.
Disney already pays state and local taxes, $780 million last year.
Posted on 4/21/22 at 8:35 pm to Tiger Prawn
quote:Incorrect. Here is the actual tax collector telling you how it works
And guess who is about to become one of those local taxpayers? Disney. Osceola and Orange Counties would get a yuge boost in local/property tax revenue from Reedy Creek district being disolved, so the counties can afford to absorb those bonds and pay them off with their new Disney tax base
quote:
Dissolving the Reedy Creek Improvement District would be a financial burden on the county, according to Orange County Tax Collector Scott Randolph.
He added that there would be zero fiscal gain for the county.
“If that district goes away, it is zero revenue, but they take on all the debt and all the obligation,” Randolph said.
Randolph said that financial obligation is about $105 million a year to operate services in Reedy Creek. For example, the district runs its own fire department, sewer services and handles all the road maintenance.
Additionally, Randolph said the county would also be taking on, potentially, $1 billion to $2 billion in bond debt.
If the county is absorbing additional costs from Reedy Creek, Randolph said the money is going to have to come from somewhere.
“If Reedy Creek is dissolved, my guess would be Orange County would have to raise property taxes 15 to 20%; now that’s not your whole tax bill, right, because your tax bill involves school and other things, but your Orange County government portion of your tax bill will probably have to go up 15 to 20% to take on that cost,” he said.
This post was edited on 4/21/22 at 8:37 pm
Posted on 4/21/22 at 8:36 pm to lsupride87
quote:
Please explain wise one
Its very simple and yes its a MSM hit piece.
Reedy Creek is supposedly no longer holding the liabilty for the bond because they are no longer the authority for the work being completed. The county will now be the authority.
So instead of Reedy Creek paying the bond directly, Reedy Creek will pay the county/ tax authority and the county/ tax authority will then pay the bond from the money Reedy Creek owes the county/ tax authority. ****oh and btw the county/ tax authority will now also make a shite ton of money on taking a cut from Reedy Creek but we won't mention that.
This is like saying a new burger place in town now has to "owe" their customers a bunch of hamburgers. Well sure, but they are also being paid for those hamburgers and will also make a profit.
This post was edited on 4/21/22 at 8:38 pm
Posted on 4/21/22 at 8:37 pm to lsupride87
So this is what you’re pivoting to after thoroughly exposing yourself as a moron earlier by saying the new florida bill prevents students from telling teachers or counselors they are being abused? 
Posted on 4/21/22 at 8:37 pm to baldona
quote:You just making up tax and obligation aws as you go?
Its very simple and yes its a MSM hit piece.
Reedy Creek is supposedly no longer holding the liabilty for the bond because they are no longer the authority for the work being completed. The county will now be the authority.
So instead of Reedy Creek paying the bond directly, Reedy Creek will pay the county/ tax authority and the county/ tax authority will then pay the bond from the money Reedy Creek owes.
This is like saying a new burger place in town now has to "owe" their customers a bunch of hamburgers. Well sure, but they are also being paid for those hamburgers and will also make a profit.
Posted on 4/21/22 at 8:37 pm to kung fu kenny
quote:
Why can’t they just make Disney pay it
Why would Disney do that?
The special tax district wasn’t about special finances for Disney. It was about having control over the development of their parks without government influences.
Posted on 4/21/22 at 8:37 pm to lsupride87
And suddenly leftists are so concerned about Florida taxpayers.
Look progs, if Floridians are willing to pay more taxes to keep your pedo allies from turning their kids into trannies, that’s their right. Don’t worry about it. Stop trying to sexualize kindergartners and none of this will be an issue.
Look progs, if Floridians are willing to pay more taxes to keep your pedo allies from turning their kids into trannies, that’s their right. Don’t worry about it. Stop trying to sexualize kindergartners and none of this will be an issue.
Posted on 4/21/22 at 8:38 pm to theunknownknight
quote:
It’s bull shite
Unknown,
Incomplete isn’t BS.
If Florida wants to revoke legislation that caused a private company to essentially pay for mandated services that state or local governments would be on the hook for that’s their choice.
Maybe Florida can take in enough tax $ to pay for it with no loss, but the inefficiency of any turnover of this scale coupled with red tape of government gives me doubt.
Posted on 4/21/22 at 8:38 pm to Open Your Eyes
Are their residences inside of Disney that could just incorporate into a new city?
Pretty much become a company town?
Also, not sure what Disney's legal recourse is, but I would think those are going to be explored.
Pretty much become a company town?
Also, not sure what Disney's legal recourse is, but I would think those are going to be explored.
This post was edited on 4/21/22 at 8:39 pm
Posted on 4/21/22 at 8:38 pm to Open Your Eyes
quote:Its actually me following up on the thread from yesterday about politcians doing something for a media win and not thinking it through or giving a frick about who pays the piper for it
So this is what you’re pivoting to after thoroughly exposing yourself as a moron earlier by saying the new florida bill prevents students from telling teachers or counselors they are being abused?
Posted on 4/21/22 at 8:39 pm to lsupride87
quote:
All in the article y’all are claiming is a “hit piece”. It’s just the “facts piece”
It purposely ignores exploring ways the bonds could be offset. So yes, it is in fact a hit piece because it’s only interested in one set of facts while refusing to gather others.
This post was edited on 4/21/22 at 8:40 pm
Posted on 4/21/22 at 8:39 pm to biglego
quote:
And suddenly leftists are so concerned about Florida taxpayers.
Yeah, don't believe it. They love to soak taxpayers.
The OP thinks its some gotcha. The tranny defenders are out of control
Posted on 4/21/22 at 8:40 pm to Centinel
quote:
it is in fact a hit piece because it’s only interested in one set of facts while refusing to gather others.
Most retard-Americans can't tell the difference. They still believe in this fairy tale called Journalism. They love clickbait, like this one.
This post was edited on 4/21/22 at 8:41 pm
Posted on 4/21/22 at 8:40 pm to GetCocky11
quote:
Disney already pays state
Hmmmm are you sure?
Posted on 4/21/22 at 8:40 pm to lsupride87
quote:
By removing the exemption, the current bonds fall in the tax payers
Ok. So?
Sounds like this must also be a windfall for Disney if suddenly taxpayers will be anteing up. Disney must be thrilled with this, right?
Posted on 4/21/22 at 8:42 pm to fightin tigers
quote:Disney would have to agree to this is the issue. Either the tax payers are getting this bill, or Disney would have to agree to take back the debt, which of course would also mean they are designated a special district, which puts us back to where we already were
Are their residences inside of Disney that could just incorporate into a new city?
Which honestly, wil likely happen. Politicians get there win this week, and in a year or so when nobody cares Disney gets their special district back
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