Interesting analysis of the DeStupid Disney thingy (found on Facebook)

WFTV reporter Nick Papantonis posted the info below on his Twitter account. Papantonis was the recipient of a Regional Edward R. Murrow Award for investigative reporting in 2020.

"There’s a lot of misinformation and confusion about what the end of Disney’s Reedy Creek district means for the company and for taxpayers. Here’s what I know, after talking to lobbyists, lawyers and tax officials:

For those of you who haven’t heard, Reedy Creek is the special tax district of Walt Disney World. It’s essentially its own city. Disney pays taxes to Reedy Creek, which operates a fire department, planning department, sewer treatment plant and public works department. Disney controls Reedy Creek, which means if they want to build a new hotel or highway, they just have to ask themselves for permission.

The biggest loss for Disney is the end of that control. It’s a lot easier to ask yourself for permission than to go to the county. While they already follow all laws and building codes and they’ll still get everything they want, it’s going to slow the process down. Potholes might develop on roads that they no longer pave themselves. They can’t just call a meeting or alter their comprehensive plan on a random Friday. They also can’t quickly finance new public projects like a fire station.

The bigger issue for everyone else is the tax revenue. Disney already pays the same local property taxes as every other landowner. Reedy Creek added its own tax on top of that to pay for its projects. That tax – $163 million per year – is illegal outside of the district. When Reedy Creek goes away, that tax goes away, and Orange and Osceola Counties can’t do anything to get it back.

However, the counties will now be responsible for all of the services Reedy Creek provides and all of the debt it has accumulated. They can’t raise sales taxes or impact fees. So, the counties will have to raise property taxes to make up the difference. They must tax every property equally – not just Disney – and therefore it’s expected that property taxes in Orange County will rise as much as 25% next June. Osceola, much smaller and less wealthy, is still working on its figures.

Lawyers largely agree that the state followed all the laws while doing this. They agree Disney may sue, but probably doesn’t have much ground to stand on. Some believe a vote of residents or delegates from the district is required to make this legal. That doesn’t appear to be the case here because a vote was never held to implement the district 55 years ago.

Essentially, Disney will lose some control of its property, and get a $163 million per year tax break and ~$1 billion of debt passed onto taxpayers. Some things will be negotiated – Disney still controls Bay Lake and Lake Buena Vista, two actual towns within RCID. Lawmakers might backtrack from this plan during the next session now that they’re realizing what they’ve done. However, aside from maybe taking away the company’s ability to build a nuclear plant, we have yet to hear how this benefits Florida and especially the local residents in any way.

The residents, by the way, had no say in this vote, no say in their property taxes going through the roof, and no desire to have their communities staring at financial ruin thanks to 72 hours of orchestrated revenge."