Posted Sunday, July 8, 2018 5:35 PM | Contributed by Jeff
Ruling in favor of Walt Disney World, a judge determined the taxable value of Disney’s Yacht and Beach Club Resort should be cut in half. The resort should be valued at nearly $189 million — not the nearly $337 million assessed by Orange County Property Appraiser Rick Singh, Senior Judge Thomas Turner wrote in his verdict, according to court documents.
Read more from The Orlando Sentinel.
My park went through the same exact thing about 15 years ago. Same deal; an overzealous tax assessor went rouge with his valuation methodology and came up with ridiculous valuations for our properties. So we filed suit and the valuations were adjusted to more reasonable levels.
If you read the comments; we hear the same thing all the time regarding paying your "fair share of taxes". What's "fair share"? The fact you are a large business means that you need to pay more just because you supposedly have pots of gold sitting around? The whole thing is ridiculous. Anybody can do the same thing by the way. If you don't agree with your tax assessment, go hire an attorney and fight the assessment.
This is my tax district, and I'm thankful that so much of the burden can be offloaded to tourism businesses. But I'm still sensitive to the fact that you can't overdo it.
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