One local mayor said that dissolving the Reedy Creek Improvement District that oversees Disney World could put a strain on local taxpayers.
The entrance to Disney World.
Reedy Creek would be a net sum loss for taxpayers, as the county will likely have to pay for emergency, according to the mayor of Orange County.
All of the government-related services on Disney World property are paid for by Disney and Reedy Creek and not by county taxpayers.
If Disney can no longer fund its own emergency services, the county will not get any extra revenue.
Reedy Creek's debts total nearly $1 billion, and it will likely have to be assumed by Orange and Osceola counties.
The county will take on an extra $163 million in costs per year, between Reedy Creek's missing tax revenue and its debts, and it will likely have to raise property taxes by 20% to 25%.
Disney will get a $163 million yearly tax break because they will no longer have to tax themselves and pay for Reedy Creek's services.
We are trying to understand what the legislature is trying to do, but I don't think they have considered the ramifications of what they have proposed.
Exactly what the effects will be. Reedy Creek will remain in place until June 1, 2023, when the new arrangement will be in place, according to Orange County Sheriff Jerry Demings. The officials in Osceola County were not sure what the fiscal impact would be and were starting an analysis to figure it out.
Hundreds of workers at Reedy Creek could lose their jobs, and Disney will have to go through additional government red tape for things like construction approval.
Disney employed 77,000 workers before the Covid-19 pandemic and its property can hold 250,000 guests each day, which is even more than the population. The property of Walt Disney World is approximately twice the size of Manhattan.
The first Reedy Creek Improvement District was established in 1967, when Disney World was being built. It allows Walt Disney World to function as its own city and govern itself the same way the county governments do. The special district and five others that were established before 1968 were abolished by the Florida Legislature during a special session this week. Disney said in a statement after the bill was signed into law that it should never have been passed or enacted.
The Bill Dissolving Special District was passed by the Florida Legislature.
How Florida Republicans are trying to take over Disney World.
Disney won't pay more taxes, but you will.
What happens after the special district is abolished? There is a newspaper in the state of Florida.
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