There’s at all times one thing new at Disney World to excite company, however all these new sights value cash. However that is not the one factor that Disney World has to pay for. It is identified that the quarterly earnings calls Disney holds clarify how a lot Disney’s Experiences division makes per quarter and the way a lot all of it prices to run. Nonetheless, the numbers are so huge that they are often tough to get your head round. And the way a lot WDW itself makes, or prices to run, is much less clear. Simply how huge are the checks that the resort has to put in writing to maintain issues rolling? Effectively, the numbers are blowing my thoughts.
Disney lately filed a lawsuit towards its house in Orange County, Florida over its property taxes. The lawsuit itself isn’t notably newsworthy, as Disney has filed a lawsuit like this a dozen occasions up to now. The corporate even gained a swimsuit beforehand, getting property evaluation at Disney’s Yacht and Seaside Membership dominated invalid. However what I discover most fascinating is simply what the tax invoice really is for numerous Disney World properties.
Disney World Owns Nearly $60 Million In Property Taxes
Florida Politics has the breakdown of the property tax payments for every of Disney World’s 4 theme parks, and they’re completely enormous. Epcot, being the most important park, has a property tax invoice of $18.3 million. Disney’s Hollywood Studios property taxes are available at $14.9 million, whereas Magic Kingdom — the most well-liked theme park on the planet — is available in just below that at $14.4 million. Disney’s Animal Kingdom seems downright low-cost coming at $11.8 million.
All advised, the whole property tax invoice is available in at just below $60 million. And that’s only for the 4 theme parks, that don’t embrace the water parks or the 2 dozen lodges on the Disney World property. And I believed the property taxes for my single-family house had been loopy.
And this is only one merchandise on a protracted listing of the resort’s bills. It does put into perspective simply how huge Disney World is and simply how a lot it’s value. The property tax payments are based mostly on an estimated worth of greater than $2.3 billion and, once more, that’s only for the 4 theme parks, nothing else.
Disney World Isn’t The Solely One Suing Over Property Taxes
Disney World is arguing that the tactic used to achieve the assessed worth of its properties is inaccurate and, thus, it shouldn’t must pay the payments it has been offered with. Disney World isn’t alone on this, as a number of lodges related to different theme parks are additionally contesting their property taxes in courtroom.
Lowes., who owns and operates the lodges for Common Orlando Resort, together with the brand new Grand Helios Resort that can open subsequent yr together with the brand new Epic Universe theme park, is contesting its tax invoice of virtually $11 million. The Renaissance Orlando lodge at SeaWorld can also be suing over its assessed taxes.
The property tax lawsuit comes following a sequence of authorized battles for Disney World concerning the Central Florida Tourism Oversight District, the governing physique that oversees Disney World. The district was created by Florida regulation in 2023, changing the Reedy Creek Enchancment District which hasd been in place since Disney World opened in 1971.