re: FL taxpayers to absorb over 1 billion in bond obligations due to Disney exemption repeal

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DISNEY PROMISED RETRIBUTION AND APPEAL

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Oh, so they were exercising their freedom of speech and Florida republicans are now trying to cancel them. Is cancel culture good in this scenario? Just trying to keep up with the ever shifting principles of modern conservatism.

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Oh, so they were exercising their freedom of speech and Florida republicans are now trying to cancel them.

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Disney isn't a political entity and doesn't elect anyone in Florida politics.

Disney is trying to unduly influence Florida law against the will of the electorate.

Whatever you want to call it they deserve.

If they can't handle the heat then stay out of politics.

Government welding influence has been happening since the beginning of time if that's cancel culture then so be it.

What a stupid attempt at a cancel culture republicans post. You are really grasping at straws these days lol.

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But if the special district goes away, won't Disney's taxes now go to the county rather than to the special district?

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So after a bit of research it basically works like this:

Reedy Creek is an independent tax district that provides services for Disney’s property. The district sets its own tax rates to pay for these services (roughly $105 million/yr), and Disney pays those taxes. The district actually operates at a loss of something like $10 million per year (at least recently), but that hasn’t mattered historically because Disney can make up the difference as needed.

The advantage for Disney is that they have full control over their services and infrastructure. They don’t have to deal with Orange County/Osceola County to build roads, for example. They also get a higher level of services because they are the ones running those services.. for themselves.

The advantage for Orange County and Osceola County is that Disney still pays property taxes to the tune of $280 million/year to the counties, but the counties don’t have to provide services.

Reedy Creek has financed a fair amount of work through bonds and owes (reportedly) between $1.0-1.7 billion on those bonds. Under Florida law, if Reedy Creek is dissolved as a tax district, the bond liability gets transferred to other municipalities. It’s not entirely clear how it would get split up, but the general consensus is that the counties will bear the brunt of those bond liabilities.

The billion dollar question is this: what happens to Reedy Creek’s $105 million/yr in tax collections. According to Scott Randolph, the Orange County tax collector, it disappears. The reason (according to him) is that since Reedy Creek is an “independent tax district,” the taxes Disney pays to Reedy Creek are in addition to the normal local taxes, not in place of them. In other words - Disney gets to finance their own services but they still don’t get a discount on public services.

According to Randolph, the only way to levy an extra tax on Disney to cover any costs that come from Reedy Creek would be to create a new special tax district - which basically gets us right back to where we started.

At least one Florida state representative has said the opposite - that even if the tax district is eliminated, the taxes to pay off the bonds would remain with the current tax district (despite the bonds now going to other municipalities).

I have no idea which point of view is correct, but the idea that the state/county can dissolve a tax district but then continue to levy a special tax, above the normal local taxes, against the people who lived in that district seems at least a little odd.

There’s also the question of whether a tax district can even legally be eliminated under Florida law without a majority vote from the residents in that district. So this will probably be tied up in court for a while anyway.

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Just trying to keep up with the ever shifting principles of modern conservatism.

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I’ll make it simple for you. Keep your disgusting gender bending bullshite out of elementary schools and you’re mostly there.

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You would be ok with the largest private employer in central Florida just leaving so you could own the libs? As much as you hate Disney they bring so much revenue to Orange County that if they left it would devastate the economy there for decades. So stupid.

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Lol I don’t want Disney to leave to own the libs, I want them to leave bc they’re a nuisance. Airport is always hectic bc of Disney travelers, traffic is always horrible bc of Disney. And to top it off the parks suck. But saying the loss of revenue disney creates for the county would devastate our economy for decades is a huge exaggeration. Give me fricking break.

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Oh, so they were exercising their freedom of speech and Florida republicans are now trying to cancel them. Is cancel culture good in this scenario? Just trying to keep up with the ever shifting principles of modern conservatism.

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Look groomer, Disney wasn’t canceled, just their sweetheart deal. Speech has consequences, isn’t that what you prog twats like to remind everyone?

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So you're okay with freedom of speech now?

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It’s astonishing how progs can’t bring themselves to ever ever ever say “you know, maybe we’re wrong on this and went too far. Maybe kindergartners don’t need to be sexualized.” But nope, never. If it’s a prog issue, they’re in lockstep all the way baby. They might have to avoid talking about the issue directly but they’re still 100%.

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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.

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The stupidity of this board is in full swing. The actual tax collector says there is zero fiscal gain but they have to absorb the debt obligation and people are here posting “nah. Surely Disney will pay more
In taxes and it will all work out.” Just admit this punishes residents of the counties absorbing the debt and you don’t care about the average family paying more in taxes just to spite Disney.

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The stupidity of this board is in full swing. The actual tax collector says there is zero fiscal gain but they have to absorb the debt obligation and people are here posting “nah. Surely Disney will pay more
In taxes and it will all work out.” Just admit this punishes residents of the counties absorbing the debt and you don’t care about the average family paying more in taxes just to spite Disney.

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what are the purpose of these bonds? what are they paying for?

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Just admit this punishes residents of the counties absorbing the debt and you don’t care about the average family paying more in taxes just to spite Disney.

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Just admit that you have a price tag on your child's innocence and would sell them out for a lower tax burden.