As a cinephile with a penchant for delving deep into the financial intricacies of the film industry, this latest revelation about Disney World‘s property taxes has left me truly spellbound. I mean, who would have thought that the property tax bill for Epcot alone is a whopping $18.3 million? And here I was fretting over my own humble abode’s property taxes!
Every time I visit Disney World, there’s always something fresh and exciting to experience, but each new attraction comes at a cost. It’s not just the attractions, though; Disney World has numerous expenses to manage. During their quarterly earnings calls, Disney reveals how much their Experiences division earns and spends in a single quarter. However, those figures can be hard to grasp due to their sheer magnitude. The financial details of WDW itself – how much it generates or the cost to run it – are less transparent. It’s fascinating to ponder just how many large payments Disney World must make to keep everything running smoothly. Frankly, the scale of those expenses leaves me astonished.
Disney recently filed a lawsuit against its home in Orange County, Florida over its property taxes. The lawsuit itself isn’t particularly newsworthy, as Disney has filed a lawsuit like this a dozen times in the past. The company even won a suit previously, getting property assessment at Disney’s Yacht and Beach Club ruled invalid. But what I find most interesting is just what the tax bill actually is for various Disney World properties.
Disney World Owns Almost $60 Million In Property Taxes
As a supporter, I’m sharing some fascinating insights about the property tax bills for each of Disney World’s four theme parks. Here’s the breakdown: Epcot, the largest park, carries a hefty property tax bill of $18.3 million. Disney’s Hollywood Studios follows closely with a bill of $14.9 million. The most popular theme park on Earth, Magic Kingdom, has a property tax bill slightly lower at $14.4 million. Interestingly, Disney’s Animal Kingdom appears relatively modest in comparison, with a property tax bill amounting to $11.8 million.
In summary, the combined property tax for only the four theme parks at Disney World amounts to approximately $60 million, excluding water parks and the twenty-four hotels within the premises. This makes me reconsider what I previously found expensive when it comes to property taxes on my single-family home.
One single cost item on a extensive list highlights the vastness of Disney World, underscoring its immense value. The property taxes alone, calculated from an approximate worth of over 2.3 billion dollars, only cover the four theme parks; other aspects are not included in this figure.
Disney World Isn’t The Only One Suing Over Property Taxes
Disney World claims that the way their property values were calculated is flawed, implying that these assessments are incorrect. Consequently, they believe they should not be required to pay the bills based on these allegedly erroneous evaluations. Interestingly, multiple hotels linked to other theme parks are also challenging their property tax bills in a legal setting.
Lowe’s, the proprietor and manager of hotels for Universal Orlando Resort, including the forthcoming Grand Helios Resort set to open next year alongside the new Epic Universe theme park, is challenging a tax bill totaling nearly $11 million. Similarly, the Renaissance Orlando hotel at SeaWorld has initiated legal action over its evaluated taxes.
After a string of legal disputes, Disney World now faces a property tax lawsuit due to issues concerning the Central Florida Tourism Oversight District, the administrative body responsible for managing Disney World. This district was established according to Florida law in 2023, superseding the Reedy Creek Improvement District that had been active since Disney World’s opening in 1971.
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2024-12-17 22:38