Walt Disney World Sues Over Their Tax Bill…Again
Once again, The Walt Disney Company is suing over what it calls “excessive” local property taxes.
Last month, Disney released an economic impact study highlighting how valuable Walt Disney World is to Florida. In that report, Disney stated that it paid $3.1 billion in state and local taxes.
Now, Walt Disney Parks and Resorts has filed a dozen lawsuits against the Property Appraiser, contesting the 2023 tax assessments on its four theme parks, several hotels, and other Central Florida properties.
Disney’s aim is to get the tax bills canceled, get new lower bills, and be reimbursed for legal fees.
An Annual Tradition
A Disney tax lawsuit has become something of an annual tradition in Florida, with the company suing every year since 2015.
In response to the suit, the Ron DeSantis-appointed Central Florida Tourism Oversight Board argued, “This is just the latest in Disney’s decades-long campaign to avoid being a good neighbor and paying its fair share.”
While Disney has not officially commented following the lawsuit, in their latest round of legal arguments, Disney said,
“The assessments do not represent the just value of the Subject Property as of the lien date because they exceed the market value. … Appraiser has included the value of certain intangible property in the assessments.”
How Much Are Walt Disney World’s Parks Worth?
Orange County Property Appraiser Amy Mercado stated that she has not been served the lawsuits yet, said the office’s General Counsel, Ana Torres.
“These lawsuits are a continuation of the cases that Ms. Mercado inherited when she became Property Appraiser in 2021,” Torres said.
In the latest tax assessment, the Magic Kingdom was valued at $513.8 million. That number was lower than both EPCOT ($646.2 million) and Disney’s Hollywood Studios ($526.4 million). Disney’s Animal Kingdom came in fourth at $426.2 million.
The CFTOD Could Oppose Disney
While this is not the first time that Disney has sued over its property taxes, it is the first time the company has done so with the CFTOD in charge of the district. The new board has previously threatened to oppose Disney in any property tax litigation.
“We’re going to look at aligning the district’s interest to join Osceola and Orange (counties) to fight the many lawsuits that Disney has filed to avoid paying their own ad valorem taxes,” board Chairman Martin Garcia said at an April meeting of the Central Florida Tourism Oversight District, formerly Reedy Creek.
“We’re also going to join the counties and yes, the School Boards, in efforts to create more funding for public schools in Central Florida. And we’re going to regulate Disney like every other business in Central Florida.”
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