News OBJ Disney Acquires More Land Near Magic Kingdom

the.dreamfinder

the.dreamfinder

Well-Known Member
Original Poster
Smooth said:
This land is for the long awaited 5th Gate! Two new attractions, 47 restaurants, and 95 shops!
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https://www.awaltzthroughdisney.com/uploads/6/2/7/6/6276678/4713670_orig.png
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Dr.GrantSeeker

Dr.GrantSeeker

Well-Known Member
danlb_2000 said:
Yes, this is possible. They have bought a lot of land for this purpose recently, but most of that has been far detached from the main WDW property.
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I feel as if they've maybe, possibly, hopefully realized that there is a lot of development too close to property and are trying to create whatever buffer is possible at this point.
 
J

Josh Hendy

Well-Known Member
Pepper's Ghost said:
Fun with Google Maps! So, this comment is inaccurate. Here's another snapshot from Google that shows a clear worn track to the closest main road. I'm guessing gravel??
View attachment 460436
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I saw that gravel road, but it appears to peter out far from the house, as if the house is seldom visited.

As to why there might be a new, uninhabited house on a fairly large acreage ...

"Florida has one of the most generous homestead [bankruptcy] exemptions in the country. You can exempt an unlimited amount of equity in your home or other property covered by the homestead exemption as long as the property isn’t larger than half an acre in a municipality or 160 acres elsewhere."
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Pro tip: there has to be a home on the property for it to count as a homestead. It's apparently a thing for wealthy people to protect themselves from creditors by investing in a "homestead" that is as big as they can afford. For example I heard of a rich guy from my area buying a horse ranch in FL with a mansion and all the fixings. If worse came to worst and his business flamed out, he could eventually emerge from bankruptcy and raise a few million from selling the ol' homestead. This was the alleged reason why 🍊🥤🏈 moved to Florida.
 
JoeCamel

JoeCamel

Well-Known Member
Josh Hendy said:
I saw that gravel road, but it appears to peter out far from the house, as if the house is seldom visited.

As to why there might be a new, uninhabited house on a fairly large acreage ...



Pro tip: there has to be a home on the property for it to count as a homestead. It's apparently a thing for wealthy people to protect themselves from creditors by investing in a "homestead" that is as big as they can afford. For example I heard of a rich guy from my area buying a horse ranch in FL with a mansion and all the fixings. If worse came to worst and his business flamed out, he could eventually emerge from bankruptcy and raise a few million from selling the ol' homestead. This was the alleged reason why 🍊🥤🏈 moved to Florida.
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Ummm, you also have to have it as your primary domicile for 6 months + a day of the year. Did Walt live there?
 
J

Josh Hendy

Well-Known Member
JoeCamel said:
You said uninhabited....
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Do people ever game the exemption laws by claiming a place is their homestead, when they actually live somewhere else? By using a PO box for example.

I'm not accusing this person of anything but apparently this does happen in FL.

Link

Homestead exemption fraud is a serious issue that affects every taxpayer. Homestead exemption was created as a benefit for homeowners who live in Florida and make it their permanent and legal residence ... If you know of anyone who is claiming homestead exemption on a property that he or she is not permanently residing in, is rented, vacant or is merely a vacation home, we urge you to make a report to our office by completing the form below.
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JoeCamel

JoeCamel

Well-Known Member
Josh Hendy said:
Do people ever game the exemption laws by claiming a place is their homestead, when they actually live somewhere else? By using a PO box for example.

I'm not accusing this person of anything but apparently this does happen in FL.

Link
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It is listed as a camp on the PA page linked above. No one is claiming this as a homestead nor could they.
 
W

WallyWorld

Active Member
Just out of curiosity....26 acres. What is a Disney frame of reference/ size comparison? How many acres are a current park or resort?

Thanks....
 
danlb_2000

danlb_2000

Premium Member
WallyWorld said:
Just out of curiosity....26 acres. What is a Disney frame of reference/ size comparison? How many acres are a current park or resort?

Thanks....
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The area of Magic Kingdom within the railroad tracks is about 108 acres. 26 acres isn't a lot of it own, but it is adjacent to a much larger plot of land that was bought last year. It will be interesting to see if they get the other two plots of land around Reedy Lake.
 
W

WallyWorld

Active Member
danlb_2000 said:
The area of Magic Kingdom within the railroad tracks is about 108 acres. 26 acres isn't a lot of it own, but it is adjacent to a much larger plot of land that was bought last year. It will be interesting to see if they get the other two plots of land around Reedy Lake.
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Excellent! Thanks so much...puts it into perspective.
 

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