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Ron De Santis Sticks it to Florida Taxpayers
Posted: Thu Apr 21, 2022 10:48 pm
by silverscreenselect
Governor Ron De Santis rammed a law revoking Disney's self-governing status, a concession the state made 50 years ago to entice the company to build Disney World. The original act created the Reedy Creek Improvement District, a 39-square-mile area where four Disney theme parks and a variety of hotels and restaurants are now located. Under the original Act, the District became the equivalent of a self-governing county government, exempt from state and county land-use requirements. As such, Disney paid for all the municipal services, including police and fire protection, road improvements, and utilities.
Now, under De Santis's bill, the District will be dissolved next year and its assets and liabilities transferred to Orange and Osceola Counties, where the land is located. That means that the taxpayers of those counties will have to foot the bill for those services. Of course, Disney is going to pay a big chunk of that, but it's money they are already paying directly to those providing the services. Whatever Disney doesn't pay, the local taxpayers will. And the District also owes $1 billion in improvement bonds issued over the years. Again, Disney was paying the debt service on those bonds, but now it's up to the local taxpayers to do so.
In more general terms, De Santis is sending a message to companies that are thinking about doing business in Florida that if they don't toe the party line, any incentives they get for locating in Florida may be taken away very quickly.
https://www.cnn.com/2022/04/21/us/reedy ... index.html
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Thu Apr 21, 2022 11:15 pm
by Bob78164
Kind of like how Greg Abbott stuck it to consumers throughout Texas and across the nation by creating traffic tie-ups that helped spike the price of produce even more, and caused a whole bunch of produce to spoil on the truck.
I'd be interested to know, by the way, how many people Abbott's inspections prevented from illicitly entering the country. Since those inspections occurred immediately after federal inspections, and since Texas had no authority to actually look instead the trucks, I'm guessing the answer was either zero or very close to zero. But surely Governor Abbott can tell us what the people of Texas gained that was worth all this wastage. --Bob
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 12:08 am
by BackInTex
LOL
A couple of fiscally minded taxpayers commenting on things that met can’t understand.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 5:26 am
by kroxquo
BackInTex wrote: ↑Fri Apr 22, 2022 12:08 am
LOL
A couple of fiscally minded taxpayers commenting on things that met can’t understand.
I'll admit that economics is not my strong point. Explain to me then how the revocation of Disney's special status will benefit the taxpayers of Florida, and in particular the taxpayers of the counties that will now have to pay for all the services and improvements that Disney currently provides while simultaneously taking on its debt.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 5:40 am
by Weyoun
The counter arguments seem to be:
“I never liked Disney being in Florida anyway.”
“Disney has no right to say what kids can be taught.”
“Disney is a bunch of freeloaders.”
These don’t strike me as sound arguments, but it was also pretty obvious this is was move done out of demagoguery.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 6:45 am
by BackInTex
kroxquo wrote: ↑Fri Apr 22, 2022 5:26 am
BackInTex wrote: ↑Fri Apr 22, 2022 12:08 am
LOL
A couple of fiscally minded taxpayers commenting on things that met can’t understand.
I'll admit that economics is not my strong point. Explain to me then how the revocation of Disney's special status will benefit the taxpayers of Florida, and in particular the taxpayers of the counties that will now have to pay for all the services and improvements that Disney currently provides while simultaneously taking on its debt.
The amount of services provided won't change therefore the cost of those services won't change.
The money Disney paid to provide those services will now be collected via tax revenue (property & sales) from Disney.
Unless the people of those counties paid no property tax or paid no sales tax not much should change. Disney will now pay the county property taxes based on its appraised value so the the money they were paying they will still pay.
The bottom line is, at a macro level, there is no more money to pay and the money supply that paid it is not going away, its will just now be collected first from Disney rather than Disney paying it directly.
The only downside I see is the usual inefficiency of a governmental agency handling the services and money vs a private for profit enterprise. But, for those big corporate haters this should be viewed as a win.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 7:52 am
by silverscreenselect
BackInTex wrote: ↑Fri Apr 22, 2022 6:45 am
The amount of services provided won't change therefore the cost of those services won't change.
The money Disney paid to provide those services will now be collected via tax revenue (property & sales) from Disney.
To fund the government services of Reedy Creek, Disney effectively taxes itself. While the precise tax flows of Reedy Creek are unclear, Scott Randolph, the tax collector for Orange County, said the Reedy Creek district collects roughly $105 million annually in general revenue. On top of the $105 million, Disney also pays local property taxes. Public records show Disney is the largest taxpayer in central Florida, paying over $280 million in property taxes to the counties between 2015 and 2020. If the special district is dissolved, Orange and Osceola counties would have to provide the local services currently provided by Reedy Creek. And, the $105 million in revenue would disappear, meaning county and local taxpayers would be on the hook for part or all of the added costs. “If you dissolved Reedy Creek, that $105 million in revenue literally goes away, it doesn’t get transferred,” Randolph said. The reason: Reedy Creek is what’s known as an “independent tax district” meaning the tax revenues it generates are in addition to its local tax obligations, rather than a replacement of them. If the district is eliminated, the tax payments to Orange and Osceola counties would not increase, Randolph said.
But legislators and tax experts warn the bill creates an even larger potential problem for taxpayers in the form of bonds totaling more than $1 billion. Reedy Creek has bond liabilities of between $1 billion and $1.7 billion, according to the district’s financial filings. Under Florida statute, if Reedy Creek is dissolved, those liabilities are transferred to the local governments — either Bay Lake or Lake Buena Vista, or more likely, Orange and Osceola counties.
If the liabilities of $1.7 billion or more are transferred to Orange and Osceola counties, [one legislator] said, the debt could amount to $1,000 per taxpayer. “If the counties are left holding the bag, the state might have to come to their aid,” Farmer said. “So it’s not even just a tax issue for these two counties. It affects every taxpayer in the state of Florida.”
Tax experts say that in order for the counties to collect additional revenue from Disney to pay the bond debt, the counties would have to create a new special tax district of their own. Even if they created a new special “Disney” tax district, the tax rate would be capped below that of the current district rate, leaving Orange and Osceola counties with Reedy Creek’s debt service but with less revenue to pay it off.
https://www.cnbc.com/2022/04/21/disney- ... olved.html
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 8:26 am
by Weyoun
I have heard some estimates that say that real tax burden will be closer to $2000 per resident in those counties, and that other citizens in the state will be on the hook for some, too.
Seems like Ron DeSantis could after pedophiles groomers in more direct and less costly ways.
At a minimum this bill was passed hastily and with zero consideration about the real financial burden.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 9:17 am
by Bob Juch
But wait, there's more:
https://www.mynews13.com/fl/orlando/new ... signature-
The bill targets six special districts in Florida that were established prior to 1968. The sponsor of the House version of bill, Florida State Rep. Randy Fine (R-Brevard), said that the following districts were not in compliance with the state’s constitution:
Hamilton County Development Authority
Bradford County Development Authority
The Sunshine Drainage District (Broward County)
Reedy Creek Improvement District (Orange County and Osceola County)
East Point Water and Sewer District (Franklin County)
Marion County Law Library District
The pending legislation goes into effect in June 2023. The six districts affected have until then to reach out to the state legislature to work out a way for them to not be dissolved.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 9:22 am
by BackInTex
silverscreenselect wrote: ↑Fri Apr 22, 2022 7:52 am
BackInTex wrote: ↑Fri Apr 22, 2022 6:45 am
The amount of services provided won't change therefore the cost of those services won't change.
The money Disney paid to provide those services will now be collected via tax revenue (property & sales) from Disney.
To fund the government services of Reedy Creek, Disney effectively taxes itself. While the precise tax flows of Reedy Creek are unclear, Scott Randolph, the tax collector for Orange County, said the Reedy Creek district collects roughly $105 million annually in general revenue. On top of the $105 million, Disney also pays local property taxes. Public records show Disney is the largest taxpayer in central Florida, paying over $280 million in property taxes to the counties between 2015 and 2020. If the special district is dissolved, Orange and Osceola counties would have to provide the local services currently provided by Reedy Creek. And, the $105 million in revenue would disappear, meaning county and local taxpayers would be on the hook for part or all of the added costs. “If you dissolved Reedy Creek, that $105 million in revenue literally goes away, it doesn’t get transferred,” Randolph said. The reason: Reedy Creek is what’s known as an “independent tax district” meaning the tax revenues it generates are in addition to its local tax obligations, rather than a replacement of them. If the district is eliminated, the tax payments to Orange and Osceola counties would not increase, Randolph said.
But legislators and tax experts warn the bill creates an even larger potential problem for taxpayers in the form of bonds totaling more than $1 billion. Reedy Creek has bond liabilities of between $1 billion and $1.7 billion, according to the district’s financial filings. Under Florida statute, if Reedy Creek is dissolved, those liabilities are transferred to the local governments — either Bay Lake or Lake Buena Vista, or more likely, Orange and Osceola counties.
If the liabilities of $1.7 billion or more are transferred to Orange and Osceola counties, [one legislator] said, the debt could amount to $1,000 per taxpayer. “If the counties are left holding the bag, the state might have to come to their aid,” Farmer said. “So it’s not even just a tax issue for these two counties. It affects every taxpayer in the state of Florida.”
Tax experts say that in order for the counties to collect additional revenue from Disney to pay the bond debt, the counties would have to create a new special tax district of their own. Even if they created a new special “Disney” tax district, the tax rate would be capped below that of the current district rate, leaving Orange and Osceola counties with Reedy Creek’s debt service but with less revenue to pay it off.
https://www.cnbc.com/2022/04/21/disney- ... olved.html
Too much the sky is falling BS in the above to address. Sort of like calling the bill "Don't say gay".
By the way
Scott Randolph (born October 17, 1973) is a Democratic politician
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 10:25 am
by silverscreenselect
And he's the tax collector for Orange County who should know better than anyone about how much Disney pays out every year. Under this new law, his office will be responsible for auditing and collecting these taxes from Disney (at least for the part of Disney operations in Orange County). This $105 million figure goes directly from Disney to pay for police, fire, road, waste management, and other services for four large theme parks, two water parks, and a sports complex (where the Braves have spring training) every year. The exact figure may not be accurate, but the county has a pretty good idea what those services cost.
And you are right that a lot of the potential effects of this new law aren't certain at this time. That's an excellent reason for the legislature to study the matter in depth rather than rush through a one-page law with enormous effects in three days just to satisfy a snit that the governor has with Disney.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 10:42 am
by BackInTex
silverscreenselect wrote: ↑Fri Apr 22, 2022 10:25 am
This $105 million figure goes directly from Disney to pay for police, fire, road, waste management, and other services for four large theme parks, two water parks, and a sports complex (where the Braves have spring training) every year. The exact figure may not be accurate, but the county has a pretty good idea what those services cost.
Then Disney will continue to pay for the services they provide for themselves, or if provided by a governmental entity they will pay appropriately for it. It's not complicated. Like I said, same costs, same revenues. Just a different workflow.
Many, if not most, large industrial complexes provide for their own infrastructure, security, fire, water, trash, etc. This is not new.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 11:35 am
by tlynn78
BackInTex wrote: ↑Fri Apr 22, 2022 10:42 am
silverscreenselect wrote: ↑Fri Apr 22, 2022 10:25 am
This $105 million figure goes directly from Disney to pay for police, fire, road, waste management, and other services for four large theme parks, two water parks, and a sports complex (where the Braves have spring training) every year. The exact figure may not be accurate, but the county has a pretty good idea what those services cost.
Then Disney will continue to pay for the services they provide for themselves, or if provided by a governmental entity they will pay appropriately for it. It's not complicated. Like I said, same costs, same revenues. Just a different workflow.
Many, if not most, large industrial complexes provide for their own infrastructure, security, fire, water, trash, etc. This is not new.
Gee, I thought libs believed corporations are bad?
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 12:14 pm
by silverscreenselect
BackInTex wrote: ↑Fri Apr 22, 2022 10:42 am
Like I said, same costs, same revenues. Just a different workflow.
Not the same revenues since Disney goes into the pot with every other taxpayer in these counties to pay for these services. Big complexes do pay for a lot of their own services but they also get a lot from the local government, including police, road improvements, and at least catastrophic fire protection.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 12:23 pm
by BackInTex
I'm wondering how Universal will fare in the deal. As far as I know they have no special deal like Disney. Are they a bad deal for the residents?
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 12:33 pm
by Bob Juch
Bob Juch wrote: ↑Fri Apr 22, 2022 9:17 am
But wait, there's more:
https://www.mynews13.com/fl/orlando/new ... signature-
The bill targets six special districts in Florida that were established prior to 1968. The sponsor of the House version of bill, Florida State Rep. Randy Fine (R-Brevard), said that the following districts were not in compliance with the state’s constitution:
Hamilton County Development Authority
Bradford County Development Authority
The Sunshine Drainage District (Broward County)
Reedy Creek Improvement District (Orange County and Osceola County)
East Point Water and Sewer District (Franklin County)
Marion County Law Library District
The pending legislation goes into effect in June 2023. The six districts affected have until then to reach out to the state legislature to work out a way for them to not be dissolved.
Didn't any of you understand what I quoted? The bill does not immediately dissolve the Reedy Creek Improvement District (and the other five) but gives them over a year to comply with the state constitution. I can't find anything that details how they're out of compliance. Perhaps it's more financially beneficial to comply.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 3:37 pm
by flockofseagulls104
Disney has decided they want to be woke. How much are they willing to sacrifice for that? Or the bigger question is how much are their shareholders willing to sacrifice for that? I think it's down about 25% for the year. I know I have canceled my subscriptions to Disney and ESPN. And I'm sure I am not alone.
I don't think I like what the FL legislature and Gov did in this case. Too much like political payback. That's not what our government should be used for. But we all know the democrats would not hesitate to do something like this in the same situation. However, it went through the legal process and it wasn't just an executive order or a loophole in parliamentary procedure.
And it is nice to see someone push back against the woke bullshit other than Trump.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 4:28 pm
by Pastor Fireball
So much for "let the free market decide" and "corporations are people and are entitled to free speech" and all that other Repubican horseshit. Apparently, those rules apply only to the bad corporations with anti-American agendas because if a corporation even thinks about doing something pro-people, the Repubicans cancel them. Funny that Repubicans used to love the Walt Disney Company when they first learned that Walt was a raging anti-Semite.
Personally, I wouldn't mind if The Mouse took its billion dollars in annual tourism revenue to another state, but I doubt that "Walt Disney World Cincinnati" or "Walt Disney World Trenton" quite dance trippingly off the tongue.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 4:47 pm
by Bob78164
Pastor Fireball wrote: ↑Fri Apr 22, 2022 4:28 pm
So much for "let the free market decide" and "corporations are people and are entitled to free speech" and all that other Repubican horseshit. Apparently, those rules apply only to the bad corporations with anti-American agendas because if a corporation even thinks about doing something pro-people, the Repubicans cancel them. Funny that Repubicans used to love the Walt Disney Company when they first learned that Walt was a raging anti-Semite.
Personally, I wouldn't mind if The Mouse took its billion dollars in annual tourism revenue to another state, but I doubt that "Walt Disney World Cincinnati" or "Walt Disney World Trenton" quite dance trippingly off the tongue.
It seems to me that Disney has gotten the State of Florida to shift an awful lot of financial liabilities from Disney's books to someone else's. Isn't this a win-win for Disney, and another example of Republicans being the gang who couldn't shoot straight? Or do those counties typically vote Democratic, so Florida Republicans don't mind throwing them under the bus? --Bob
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 5:20 pm
by flockofseagulls104
Bob78164 wrote: ↑Fri Apr 22, 2022 4:47 pm
Pastor Fireball wrote: ↑Fri Apr 22, 2022 4:28 pm
So much for "let the free market decide" and "corporations are people and are entitled to free speech" and all that other Repubican horseshit. Apparently, those rules apply only to the bad corporations with anti-American agendas because if a corporation even thinks about doing something pro-people, the Repubicans cancel them. Funny that Repubicans used to love the Walt Disney Company when they first learned that Walt was a raging anti-Semite.
Personally, I wouldn't mind if The Mouse took its billion dollars in annual tourism revenue to another state, but I doubt that "Walt Disney World Cincinnati" or "Walt Disney World Trenton" quite dance trippingly off the tongue.
It seems to me that Disney has gotten the State of Florida to shift an awful lot of financial liabilities from Disney's books to someone else's. Isn't this a win-win for Disney, and another example of Republicans being the gang who couldn't shoot straight? Or do those counties typically vote Democratic, so Florida Republicans don't mind throwing them under the bus? --Bob
I don't know, but I would think Disney will have to pay a whole lot more in taxes now. And I would be surprised if the county or state or whoever is going to take over the maintenance of roads, landscaping etc will perform maintenance as often or up to the standards that Disney expects. I would also think that Disney's projects will be more scrutinized by the local or state PTB a lot more than formerly. Not to mention the inevitable lawsuits back and forth, which the lawyers will win. I think it will cost Disney a lot in the long run.
As for hate-monger's 'free market' concerns... The only time people like him string together the words free and market is to either discredit it or use it as a pointy stick, as he is doing here.
The truth is, as far as I know, none of Disney's competitors, like Universal, has anything like this deal, and Disney has benefitted from it for several decades. I suppose that is fair, because they pretty much started Orlando from scratch. But now, to use a term you like, the playing field has been leveled.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 7:53 pm
by silverscreenselect
flockofseagulls104 wrote: ↑Fri Apr 22, 2022 5:20 pm
I don't know, but I would think Disney will have to pay a whole lot more in taxes now. And I would be surprised if the county or state or whoever is going to take over the maintenance of roads, landscaping etc will perform maintenance as often or up to the standards that Disney expects. I would also think that Disney's projects will be more scrutinized by the local or state PTB a lot more than formerly.
Disney will be subject to more scrutiny in terms of building inspections, plan approvals, etc. That's the main reason they insisted on getting this deal in the first place because of the hassles that Disneyland had in California dealing with the local authorities. And the county probably won't maintain the roads as well as Disney would have liked. So Disney is going to suffer.
But as far as the taxes are concerned, Disney pays plenty of property taxes to Orange and Osceola Counties. That money goes to pay for police and fire and other services for everyone in those two counties. They also paid the equivalent of taxes to the Reedy Creek Improvement District to pay for the services in the district. Now, it will be up to the counties to pay for those services. They can't just tax Disney for the services in the district because the district has been dissolved. It would be like taxing just the taxpayers on one street for providing police service to that street. The counties can and probably will raise property taxes, but they will have to do so for everyone. So Disney will have to pay more in property taxes but not as much because they've got everyone else in the county to help pay for them. And do you know who's going to pay the biggest chunk of those increased property taxes? The other big theme park owners like Universal because they own the most property in the county.
The biggest nut is the over $1 billion in improvement bonds the district issued. Disney was paying the debt service on those bonds because they were an obligation of the district and Disney was effectively the only taxpayer in the district (there are two small towns in the district with a total population of about 50 people, all Disney employees and executives). Now, those bonds are an obligation of the county and everybody gets to pay them.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 8:11 pm
by BackInTex
I find it humorous that the lawyer, movie critic, and “pastor” think Disney will automatically win (financially) and the residents will have to pay more. Who pays what will be based on property valuation and the budgets for the current public entities plus the Disney one. It is just as possible that the citizens get a tax cut with the additional property value of Disney being added to the tax roles.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Fri Apr 22, 2022 9:59 pm
by silverscreenselect
BackInTex wrote: ↑Fri Apr 22, 2022 8:11 pm
I find it humorous that the lawyer, movie critic, and “pastor” think Disney will automatically win (financially) and the residents will have to pay more. Who pays what will be based on property valuation and the budgets for the current public entities plus the Disney one. It is just as possible that the citizens get a tax cut with the additional property value of Disney being added to the tax roles.
Here's what you didn't pick up in the discussion. Disney is
already paying property tax to Orange and Osceola Counties. They aren't being added to the tax rolls. Disney paid almost $300 million in property taxes from 2015 to 2020. Those taxes went for services for the entire county. They also paid about $100 million to supply services for the Reedy Creek District and $50 million in interest on the outstanding bonds. That money is going away and, instead the entire county will have to pay it. Disney will pay a good chunk of it, but the costs are spread over all the landowners in the county according to the value of their holdings.
Now, I'm pretty sure that the county probably won't pay as much on police, fire, roads, etc. as Disney did because they may not consider it as much of a priority. And Disney may beef up its own private spending for security and similar services. But the county is going to have to pay a lot. And they can't avoid the $50 million in interest on the outstanding bonds each year. That money now becomes an obligation of the county as well.
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Sat Apr 23, 2022 9:23 am
by Bob Juch
Bob78164 wrote: ↑Fri Apr 22, 2022 4:47 pm
Pastor Fireball wrote: ↑Fri Apr 22, 2022 4:28 pm
So much for "let the free market decide" and "corporations are people and are entitled to free speech" and all that other Repubican horseshit. Apparently, those rules apply only to the bad corporations with anti-American agendas because if a corporation even thinks about doing something pro-people, the Repubicans cancel them. Funny that Repubicans used to love the Walt Disney Company when they first learned that Walt was a raging anti-Semite.
Personally, I wouldn't mind if The Mouse took its billion dollars in annual tourism revenue to another state, but I doubt that "Walt Disney World Cincinnati" or "Walt Disney World Trenton" quite dance trippingly off the tongue.
It seems to me that Disney has gotten the State of Florida to shift an awful lot of financial liabilities from Disney's books to someone else's. Isn't this a win-win for Disney, and another example of Republicans being the gang who couldn't shoot straight? Or do those counties typically vote Democratic, so Florida Republicans don't mind throwing them under the bus? --Bob
There would be a lot of expenses shifted to the whole state too.
Why is no one understanding that the dissolving of the district would take place in June 2023, and only if Disney does not bring it into compliance with the Florida constitution?
Re: Ron De Santis Sticks it to Florida Taxpayers
Posted: Sat Apr 23, 2022 9:25 am
by BackInTex
silverscreenselect wrote: ↑Fri Apr 22, 2022 9:59 pm
BackInTex wrote: ↑Fri Apr 22, 2022 8:11 pm
I find it humorous that the lawyer, movie critic, and “pastor” think Disney will automatically win (financially) and the residents will have to pay more. Who pays what will be based on property valuation and the budgets for the current public entities plus the Disney one. It is just as possible that the citizens get a tax cut with the additional property value of Disney being added to the tax roles.
Here's what you didn't pick up in the discussion. Disney is
already paying property tax to Orange and Osceola Counties. They aren't being added to the tax rolls. Disney paid almost $300 million in property taxes from 2015 to 2020. Those taxes went for services for the entire county. They also paid about $100 million to supply services for the Reedy Creek District and $50 million in interest on the outstanding bonds. That money is going away and, instead the entire county will have to pay it. Disney will pay a good chunk of it, but the costs are spread over all the landowners in the county according to the value of their holdings.
Now, I'm pretty sure that the county probably won't pay as much on police, fire, roads, etc. as Disney did because they may not consider it as much of a priority. And Disney may beef up its own private spending for security and similar services. But the county is going to have to pay a lot. And they can't avoid the $50 million in interest on the outstanding bonds each year. That money now becomes an obligation of the county as well.
I think you are quite wrong. The $4-5 million per year in taxes paid over those years does not account for the full value of the properties to which the counties will now be able to assess and tax at full value. According to Bizjournals, Universal Studios paid $5.35 million in property taxes to Orange County, about the same rate you're saying Disney paid. Do you think the full appraised value of Universal Studios is equal to that of all of Disney there? Of course not. Disney pays taxes to Reedy Creek and those roles will be combined into the county's. Disney was NOT double paying as you seem to imply.