NewsCovering Florida


Disney's revoked special district status could affect Florida taxpayers

Posted at 4:55 AM, Apr 22, 2022
and last updated 2022-04-22 06:34:51-04

FLORIDA — According to financial reports, Reedy Creek historically operates at a loss of around five to ten million dollars each year.

But, since Disney can subsidize its own operations with theme park revenue, that debt doesn't have much impact on its bottom line.

According to lawmakers, there is around one billion dollars in debt on the balance sheet that taxpayers would become responsible for.

But that would only happen if the special district gets absorbed.

And all of this would lead to higher taxes.

Florida law says that special districts created by the legislature can only be dissolved with a majority vote of the district's landowners.

For Reedy Creek, that's the Walt Disney Company.

Tax experts say that the elimination of this district would go into effect by June 2023.