JoeCamel
Well-Known Member
"Hey business guess what? We have a shortfall to make up so your share of the tax will be increasing..."
-
Welcome to the WDWMAGIC.COM Forums!
Please take a look around, and feel free to sign up and join the community.
News Reedy Creek Improvement District and the Central Florida Tourism Oversight District
- Thread starter castlecake2.0
- Start date
That's not how eminent domain works in this state.
Tourism and the cheap labor it employs statewide is the #1 industry in the state.
Florida can attract other industries. Which it should be doing to mitigate the fluctuation of tourism revenues.
JoeCamel
Well-Known Member
Nope, ag is twice tourism and aviation is half again larger
That’s incorrect , Tourism is #1, followed by agriculture #2 in FL.
Shout out to President Obama who made a last minute visit to MK about 10 years ago which had to close the park to him one morning and invited guests. Iger , Staggs were present and Obama talked in front of the castle about tourism, its importance to FL and looking into lessening the barriers for immigrants to visit and or work and live in FL.
JoeCamel
Well-Known Member
Quote it
What Are The Biggest Industries In Florida?
Florida’s economy is undoubtedly one of the country's economic powerhouses. Learn about Florida's major industries in this article.
www.worldatlas.com
And who works in agriculture to give us fresh fruits and veggies ? Hint - a number of those 2M workers don’t have documentation.Quote it
What Are The Biggest Industries In Florida?
Florida’s economy is undoubtedly one of the country's economic powerhouses. Learn about Florida's major industries in this article.
JoeCamel
Well-Known Member
Florida isn't #1 in tourism, though. That's Tennessee. $24.2B versus Florida's $11.4B.
peter11435
Well-Known Member
Florida needs to attract new industries with or without Disney. Don’t expect Florida to keep having low taxes if it took a massive hit in tourism revenue. What are you going to do with the nearly half a million Floridians that would now be unemployed?
And what does this have to do with my comment? Florida needs to attract other industry to mitigate the fluctuations of tourism. Tourism dollars come from discretionary income and thus are sensitive to economic fluctuations. With a low corporate income tax rate of 5.5% and no intangibles tax, it's attractive, tax wise, to businesses. A push to shift from a service sector based economy to other fields would improve the long term economic health of the state.
GoofGoof
Premium Member
That’s the biggest open question. Many pages back there was an extensive debate on whether the state constitution would allow it and people smarter than me quoted the relevant parts. I think the consensus conclusion is it seems very unlikely that the state could create a special district that assesses taxes on landowners but does not allow landowners on the board unless the landowners voted in favor of that setup. So if the legislature follows the governor‘s lead and attempts this it will most likely be challenged in court and most likely deemed unconstitutional. Then the play is to amend the state constitution to allow it.
Agreed. Think of the long term implications. If such an amendment passed it would essentially allow the Governor to randomly tax anyone who opposes him as a punishment any time he wants. So if your neighbors put up yard signs supporting his opponents he could create a special district that taxes your whole neighborhood arbitrarily.
Think of the impact to the larger state economy. Many businesses will not consider moving jobs or facilities to the state knowing that on a whim the Governor could just punish you with higher taxes without any justification. FL was trying to attract other industries outside of tourism and agriculture to diversify the state economy. This would be devastating to that effort. Many state leaders spent years making FL business friendly in an attempt to attract more and better jobs. All that could be reversed out over a silly political grudge.
So all that being said, should the people of FL see this for what it is and vote no, yes they should….will they….who knows. People get swept up in political talking point and culture war debates so some may vote yes because they don’t think about the real long term impact. Your faith in the population is greater than mine.
Last edited:
peter11435
Well-Known Member
I don’t know where you’re pulling those numbers from but you’re incorrect. Walt Disney World itself makes more than 11.4B. In 2019, out of state visitors alone spent nearly $100 billion in Florida.
Last edited:
JoeCamel
Well-Known Member
Could be the difference between direct and indirect impact. Quotes would make it easier to determine
peter11435
Well-Known Member
Either way the number is way off. Florida hotel revenue alone is more than 11.4B. WDW revenue alone is more than 11.4B
Florida's major source of revenue are sales and corporate taxes. Close to 25% of the residents are retired.
Legislature will need voter approval to increase state sales tax rate of 6%. What it might do is remove some of the commodities that are exempt from sales taxes. Or attempt another go at a services tax. But that failed in the past.
peter11435
Well-Known Member
They’d have to find some way to make up the lost revenue.
Disney Analyst
Well-Known Member
Two Years to Remember: The Impact of the Pandemic on Florida's Tourism Industry
Two Years to Remember: The Impact of the Pandemic on Florida's Tourism Industry