In an attempt to ease the tax burden on residents, Florida recently passed a law requiring municipalities to cut 3-9% of their property tax collections. However, the law includes a provision which allows a municipality to avoid the tax cut with the approval of 2/3 of its governing body.
According to the Orlando Sentinel, the Reedy Creek Improvement District will not implement the tax reduction:
“With Disney's blessing, Reedy Creek has informed the Orange County Property Appraiser's Office that it intends to override the property-tax rollback that state lawmakers imposed on local governments during a June special session.
Reedy Creek officials say abiding by the rollback would force them to eliminate $1.2 million in spending from about a $52 million operating budget.
That, they say, is simply too much to absorb for a district that covers nearly 25,000 acres and provides ambulance service, building inspections, mosquito control and more for Disney World and related businesses.”
Property taxes represent about 15-20% of the Annual Dues obligations imposed upon DVC members.
Source: Orlando Sentinel