News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[GimpYancIent]

They can't just do that. The counties are bound to strict criteria in how they levy property taxes.

Wasn't there a recent settlement involving Disney Co and the Orange County tax assessor on WDW value assessed?

 

[Sirwalterraleigh]

Why does everyone keep debating this as though there is even a slight chance of it actually happening? RCID is not going anywhere. It's not going to happen. There is not even a 0.001% chance of this actually taking place, regardless of what DeSantis and the legislature do over the next 24 hours.

It’s not happening…it’s grandstanding…but bad PR for Disney tends to lead to investors losses…and isn’t that the whole end game?

 

[Sirwalterraleigh]

You're right, Ron DeSantis has pushed this legislation as a way to provide Disney with a $150 million annual windfall. And Disney is deeply opposed to it because they don't want a $150 million annual windfall.

Get off the Faux Pipe, dude…

 

[AEfx]

It's too bad the current iteration of this is so political, because it's actually a very interesting topic and I think some folks are rallying to sides based on that, not the actual practicalities. In fact, I think a lot of people would be making different arguments if they were solely looking at this from a business and cost benefits angle - and from the standpoint of large corporations getting special treatment.

It's no question that Disney benefits from running their own show. That's why they got this sweetheart deal a half-century ago, when this was a bunch of worthless swampland. Things have changed. Particularly in the past 20 years since Disney has been hell-bent on capturing all Disney guests on-property. Every dime they spend goes to Disney, not to the local economy. Look at the motel-hell slums that now surround the place. I wouldn't be surprised if Universal actually benefits the local economy more these days, since those visitors actually spend money in the surrounding areas.

 

[GimpYancIent]

But not enough hotel space is a very frequent complaint in Disneyland…no?

It's complicated.

 

[yensid1967]

Thanks Chapek for getting into this mess. I really do not think it will pass if the 2 counties are going to foot the almost $1-$2 BILLION per year raise in their taxes!!!!

 

[JohnD]

It’s not happening…it’s grandstanding…but bad PR for Disney tends to lead to investors losses…and isn’t that the whole end game?

Their land isn't going anywhere. They still own it. As for the governing structure of it not going anywhere, don't be so sure.

 

[Tom P.]

Their land isn't going anywhere. They still own it. As for the governing structure of it not going anywhere, don't be so sure.

I'm sure.

 

[Sirwalterraleigh]

It's too bad the current iteration of this is so political, because it's actually a very interesting topic and I think some folks are rallying to sides based on that, not the actual practicalities. In fact, I think a lot of people would be making different arguments if they were solely looking at this from a business and cost benefits angle - and from the standpoint of large corporations getting special treatment.

It's no question that Disney benefits from running their own show. That's why they got this sweetheart deal a half-century ago, when this was a bunch of worthless swampland. Things have changed. Particularly in the past 20 years since Disney has been hell-bent on capturing all Disney guests on-property. Every dime they spend goes to Disney, not to the local economy. Look at the motel-hell slums that now surround the place. I wouldn't be surprised if Universal actually benefits the local economy more these days, since those visitors actually spend money in the surrounding areas.

I would be more than happy to consider it if it’s wasn't for a pr/fundraising stunt coming from criticism directed toward another stunt…but that’s “adulting”

 

[the_rich]

Their land isn't going anywhere. They still own it. As for the governing structure of it not going anywhere, don't be so sure.

There's a statute in state law that says the residents of such districts have to vote on its dissolution. Guess who lives in the district?

 

[lazyboy97o]

Brother, what are you talking about?

Disney currently pays $150 million of property taxes to RCID. If RCID goes bye-bye, Disney is just going to pay the same $150 million to Orange and Osceola Counties, in addition to what they already pay.

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No. Disney does not pay Reedy Creek Improvement District in lieu of paying the counties, it is in addition. You have been told this repeatedly.

 

[Sirwalterraleigh]

Their land isn't going anywhere. They still own it. As for the governing structure of it not going anywhere, don't be so sure.

Who said anything about “land”?…this isn’t Yellowstone…

I’m talking about bleed of revenues and profits (potentially) leading to stock price dip (potentially)

 

[CaptainAmerica]

It's too bad the current iteration of this is so political, because it's actually a very interesting topic and I think some folks are rallying to sides based on that, not the actual practicalities. In fact, I think a lot of people would be making different arguments if they were solely looking at this from a business and cost benefits angle - and from the standpoint of large corporations getting special treatment.

It's no question that Disney benefits from running their own show. That's why they got this sweetheart deal a half-century ago, when this was a bunch of worthless swampland. Things have changed. Particularly in the past 20 years since Disney has been hell-bent on capturing all Disney guests on-property. Every dime they spend goes to Disney, not to the local economy. Look at the motel-hell slums that now surround the place. I wouldn't be surprised if Universal actually benefits the local economy more these days, since those visitors actually spend money in the surrounding areas.

Uber and Lyft popped the on-property bubble. Disney shutting down Magical Express was their surrender.

 

[Joel]

It is amazingly disheartening to see how many people support the blatantly unconstitutional use of government power as long as people who pretend to think like them are the ones wielding the power.

I don't think corporations deserve the same constitutional rights as people. And even if I acknowledge that legal precedent says otherwise, I don't have to pretend to have sympathy for them anyway. Simple as.

 

[JohnD]

I'm sure.

We know it won't be dissolved tomorrow. The bill which is likely to pass and be signed by the Governor gives Disney (and five other special districts) until 2023 to come up with a solution.

 

[mikejs78]

You're right, Ron DeSantis has pushed this legislation as a way to provide Disney with a $150 million annual windfall. And Disney is deeply opposed to it because they don't want a $150 million annual windfall.

Because DeSantis doesn't care. He's trying to win the 2024 GOP nomination.

 

[Sirwalterraleigh]

No. Disney does not pay Reedy Creek Improvement District in lieu of paying the counties, it is in addition. You have been told this repeatedly.

…but that interferes with the “improve night at the cable pundit show/clickbait website” schtick

 

[GimpYancIent]

Has any comment been made by the Disney Co. board of directors? B.C. is the CEO not the Board Chair. I am sure this RCID issue is a topic of discussion.

 

[the_rich]

We know it won't be dissolved tomorrow. The bill which is likely to pass and be signed by the Governor gives Disney (and five other special districts) until 2023 to come up with a solution.

There is already a solution. Residents of said district have to vote on dissolution. The residents are all disney employees.

 

[Sirwalterraleigh]

We know it won't be dissolved tomorrow. The bill which is likely to pass and be signed by the Governor gives Disney (and five other special districts) until 2023 to come up with a solution.

It’s not even close to being that serious. As has been said 1000 times…the district would have to vote to dissolve and “chances aren’t good”. It’s not like the vote for Yeehaw Junction Animal Control Officer