The timeshare industry is huge in Florida and anything that is bad for Disney will be worse for those just outside. If the CFTOD continuee down this raod, the citizens of Central Florida better watch out because empty timeshares not paying taxes will crush the property owners, businesses and loss of employment.
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News Reedy Creek Improvement District and the Central Florida Tourism Oversight District
- Thread starter castlecake2.0
- Start date
Actually, they can sue the Board Members personally if they are not following the law and operating in the interest of the stakeholders, property owners. This board is making financial decissions that can be proven to harm the property owners and businesses. Therefore, they are operating in violation of the law and can be sued and found liable. It is also the reason an injuction may be issued against the CFTOD in a week or 2 to stop any further actions and cancel some of those already taken that lead to added costs to the property owners. Additionally at every meeting Chairman Garcia talks and says he is only following the law and making decissions in that are good for the district. He has said he is willing to violate the law and prevent property owners from dIsputing property assesments. This proves he is not following the law or doing what is job is, which is to operate in the interest of the district. Every property owner has the legal right to dispute aritrary assesments and prove in Court the error. Garcia needs to resign today as does the rest of this illegal and unconstitutional Board. DeSantis should have just abolished the RCID because by changing it to The CFTOD he proved this was done in violation of Disney's Constitutional Rights. DeSantis could have won if he had just done that, but he would have lost support in Florida because of what that would have done to property taxes ourside the RCID. DeSantis's ego is his biggest problem and his Violating US Constitutional Rights is the reason he can't and wontl't win the nomination.
They will argue that this is part of the administration's retaliation.
Again, see Fuller v Carollo in Florida's Southern District, where code enforcement and law enforcement were weaponized against a political enemy.
GoofGoof
Premium Member
It’s not a major factor for most DVC owners. For a BLT contract the annual maintenance fees are $7.43 per point. $1.76 goes to ad valorem tax which is split about 50/50 between Orange County and RCID. So the Reedy Creek portion is roughly $0.88 per point or $88 per 100 points owned. So even in an extreme case where the district doubles taxes (may be impossible to do even for these hacks) that would be an extra $88 a year per 100 points owned. For people spending thousands every year on a WDW vacation (or multiple vacations) an extra $88 doesn’t move the needle. If someone owns 1,000 points then $880 seems more steep, but those 1,000 points are worth over $150K on the resale market. Anyone holding $150K worth of DVC points shouldn't be bothered by $880.
DVC ownership is for approximately 50 years. A waste of $880 a year by this Board is $44,000 not a small amount of money.
GoofGoof
Premium Member
Very few people own 1,000 points. The average owner is probably closer to 100 than 1,000. That also assumed they could justify doubling taxes which can’t logistically happen. They have to increase the budget to justify the increase in taxes. Let’s say they force a 10% increase in taxes then it’s only $8.80 a year per 100 points or less than $500 over 50 years per 100 points. If those same owners spend $5,000 a year on other expenses outside of DVC rooms (flights, park tickets, meals, merchandise) that’s $250,000 spent on Disney vacations over 50 years. The tax portion of DVC fees isn’t a big percent of total spent.
scottieRoss
Well-Known Member
however, 5.7 million points times 0.88 is $5,016,000
GoofGoof
Premium Member
DVC owners pay about 25% of the taxes to RCID in total. The 2023 budget for RCID is around $180M in real estate tax revenues so roughly $45M paid by DVC owners. So if the district raised taxes 10% an additional $4.5M from all DVC owners collectively. While the total dollar amounts are large there are over 50M DVC points spread amongst several hundred thousand owners so the direct impact of real estate taxes to most individual owners is not huge.
Sirwalterraleigh
Premium Member
None of these lawsuits is About money (for Disney)
They just want the laws struck down, not even give a glance as they leave the courtroom, waive off the press and get back on the gulf stream for immediate departure back to John Wayne
They just want the laws struck down, not even give a glance as they leave the courtroom, waive off the press and get back on the gulf stream for immediate departure back to John Wayne
GrumpyFan
Well-Known Member
I’m not sure how you arrived at that conclusion. WDW is a major source of revenue for the Disney company and anything that would inhibit their operations of the property in a manner different to how they have for the last 50 years could cause a major impact financially. They want the laws struck down so they can continue to build and operate their business in a manner that’s best suited to their needs.
Sirwalterraleigh
Premium Member
I just said what it was about…a restoration of home rule…
It’s not about fighting Florida for nickels every step of the way. They aren’t gonna do that. They would shut the place down before that
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Sirwalterraleigh
Premium Member
Dvc taxes are nothing. It’s one of the red herrings of dvc “discussion”
GoofGoof
Premium Member
It’s not nothing….but not a major factor in the overall cost either.
GoofGoof
Premium Member
There’s no monetary payout if they win the lawsuit. It’s always been about keeping full control.
Sirwalterraleigh
Premium Member
Correct.
People have not done their homework and keep making references to “damages”…like a two bit personal injury lawyer.
And then “maybe Disney can get it’s legal fees?”
Why? How budget would look even if they could do it.
This is fundamentally about showing that the district has always operated exactly as intended and Florida gets at least as much out of it.
It’s not the people’s court
Sirwalterraleigh
Premium Member
…so if it’s not major…then what is it?
GoofGoof
Premium Member
They are asking for the legal fees in the Federal lawsuit. That is allowed.
GoofGoof
Premium Member
It’s a minor factor in the overall cost. It’s not zero dollars which would be nothing but it’s also not significant enough to make much of a difference financially to most people.…so if it’s not major…then what is it?
MrPromey
Well-Known Member
Joe Rohde just tossed up an... interesting article on Twitter. (as in, go there if you want to read it)
It delves a little farther into politics as a whole beyond just Disney to be appropriate for this thread but if anyone's curious about his take on things with his former employer and Florida, I think he just made it crystal clear.
It delves a little farther into politics as a whole beyond just Disney to be appropriate for this thread but if anyone's curious about his take on things with his former employer and Florida, I think he just made it crystal clear.
GrumpyFan
Well-Known Member
Might be “clear” if I could actually find what he “tossed up”.