Disney challenging property tax valuations

[_auroraborealis_]

http://www.orlandosentinel.com/business/tourism/os-bz-lawsuits-disney-singh-20180618-story,amp.html

 

[starry_solo]

Wow...Disney wants to pay less money to the government, not surprised. LOL

 

[southerngirl528]

I saw that today, Aurora, in an email. Property taxes here are ridiculous. I live very close to WDW.

Wow...Disney wants to pay less money to the government, not surprised. LOL

Count me in on that too! (see my first comment here)

 

[DenLo]

It will be interesting to see how the first law suit comes out as that increase was a whooper even for the DVC resorts.

 

[disneynutz]

This started over a year ago, can't wait to see what happens.

Bill

 

[rg35]

Wow...Disney wants to pay less money to the government, not surprised. LOL

These costs are simply going to be passed onto resort guests, so ultimately it's not really Disney who is going to be paying for them.

It seems ridiculous in some cases that assessments are being increased over 200%.

 

[starry_solo]

These costs are simply going to be passed onto resort guests, so ultimately it's not really Disney who is going to be paying for them.

It seems ridiculous in some cases that assessments are being increased over 200%.

I'm not sure how commercial property is valued in FL, but here in CA, there are a few different ways to value it.

 

[_auroraborealis_]

Florida has no personal income tax. Property tax is a huge source of their revenues.

 

[drusba]

There is a lot of politics going on with the property taxes and that started a few years back when the new appraiser, Rick Singh, a democrat with visions of reaching high office, was first elected. His campaign promises going into office included raising assessments substantially on large businesses like Disney, Universal, Sea World and others to make them pay their "fair share" of taxes, asserting that the predecessor appraisers were incompetents who undervalued the property of large businesses; he asserts his super-competency results from his having been a state certified appraiser before being elected, while his predecessors were not. Since being in office, he has raised assessments on the property of many businesses substantially with the result that there are constant lawsuits going on challenging his assessments (Disney's is just one of many).

 

[southerngirl528]

Florida has no personal income tax. Property tax is a huge source of their revenues.

True about the personal income tax. But we do get sales taxed on groceries, impact taxes for bringing a car into the state and a good number of other things, that along with the very, very high property taxes, make up for that difference IMO. I've been here 20 years.

 

[4luv2cdisney]

True about the personal income tax. But we do get sales taxed on groceries, impact taxes for bringing a car into the state and a good number of other things, that along with the very, very high property taxes, make up for that difference IMO. I've been here 20 years.

Florida's property taxes are mid-range when compared to the entire US. Once you factor in no income tax, it's a pretty low-tax state to live in.

 

[southerngirl528]

Florida's property taxes are mid-range when compared to the entire US. Once you factor in no income tax, it's a pretty low-tax state to live in.

I'd love to see the chart you quoted that from stating FL property taxes are "mid-range". And property taxes vary by WHERE one lives in FL. And I happen to live where they are not "mid-range". Sure, you can come on down and buy some property out in the sticks in Fl, and have pretty good property taxes. You don't say where you live.

 

[airsdaddy]

I'd love to see the chart you quoted that from stating FL property taxes are "mid-range". And property taxes vary by WHERE one lives in FL. And I happen to live where they are not "mid-range". Sure, you can come on down and buy some property out in the sticks in Fl, and have pretty good property taxes. You don't say where you live.

Search Google for "property tax by state". All of them show Florida in the 20's out of the 50 states. I own a house in the panhandle, but am currently living in New York for work....I can't afford a house here, and property taxes are a major reason.

https://www.palmbeachpost.com/busin...y-among-highest-state/SkB4CdnAEueUQQdn91cLtK/

That's a good idea of the numbers. The highest county in FL came in at 1.35%. with the average at 1.09%. There are 16 states with averages that are higher than Florida's highest property taxed county. So even Florida's highest taxed county is still mid range.

 

[DenLo]

You cannot compare states as there are too many factors involved. People from the Eastern seaboard and many other states moved to Florida for a reason and prices in Florida are increasing with the demand for more expensive properties. But a over 200% increase in property evaluation is ridiculous.

 

[southerngirl528]

ou cannot compare states as there are too many factors involved. People from the Eastern seaboard and many other states moved to Florida for a reason and prices in Florida are increasing with the demand for more expensive properties. But a over 200% increase in property evaluation is ridiculous.

Agree with everything you just said, DenLo.

 

[4luv2cdisney]

I'd love to see the chart you quoted that from stating FL property taxes are "mid-range". And property taxes vary by WHERE one lives in FL. And I happen to live where they are not "mid-range". Sure, you can come on down and buy some property out in the sticks in Fl, and have pretty good property taxes. You don't say where you live.

Well, I didn't mean to be offensive, I actually just kind of find this stuff interesting. In addition to the link above provided by another poster, I really like this one:

https://www.usatoday.com/story/mone...americans-pay-least-and-most-taxes/350963002/

(because it isn't just property taxes and it also factors in average incomes)

when I dream of selling my house, buying a new one with the equity, having no mortgage payment and knowing I can pay my taxes even if all I have is a minimum wage job. lol

FWIW, I live in IL and pay nearly 3% of my homes market value in taxes every year and nearly 5% in state income taxes along with a 7% sales tax. I live in a Chicago suburb where the housing prices aren't so cheap either, though they could be worse. So, I realize there are areas of any state that run higher or lower.

Another fun tool to use, is this one.....

https://smartasset.com/taxes/property-taxes#Tgjdyubnci

We know a family of 20-ish people (3 generations) that recently moved to FL for lower taxes, same size house for less money, and the warmer weather....same reasons many people retire to FL.... so the facts were simply fresh in my mind when I saw your comment.

Didn't mean to take the thread so off topic.

 

[wdrl]

It seems ridiculous in some cases that assessments are being increased over 200%.

Which assessments are you referring to? The official data from the Orange County Property Appraiser doesn't show any DVC property, once built out, having such a large increase in its assessment.

The chart below shows the property appraisals from 2014 to 2017. During that period, the largest increase in appraisal value was for the Villas at Grand Floridian, which saw a 68.47% increase. However, VGF's number is distorted by the fact that it was not completely built out in 2014 and Orange County did not fully appraise the property until 2015.

 

[southerngirl528]

Well, I didn't mean to be offensive, I actually just kind of find this stuff interesting. In addition to the link above provided by another poster, I really like this one:

Thanks! That was kind. And I did some digging and saw that in many respects, FL does have much lower taxes than say, IL and the Northeast for example. We are self-employed and taxes absolutely eat our lunch. And a lot of our breakfast too!

 

[BWV Dreamin]

Please update us if you get any further info. This could make or break future sales.

 

[4luv2cdisney]

Please update us if you get any further info. This could make or break future sales.

I ran across this info when buying last October. I'm a little concerned, but then looking at the property tax portion of dues on BWV (where I purchased), over the last 10 years the amount going toward the taxes has gone up by about 50% but really that amounts to about $.50/pt.....over 10 years. Kind of puts it in perspective.

Now, I'm too lazy to go looking up actual #s right this minute, but I think the current tax portion of our dues is around $1.50 and I believe there is a cap on annual tax increases of 10% annually. So, at worst, the prop tax portion of dues could go up $.15 next year. Yeah, I get it....it will eventually add up but I'm not going to panic.
I do cringe though when I see people buying home resorts (ex: SSR and BLT) in part because of their low dues and wonder why people believe those resorts will always stay at the low end. Is there a cap on what DVC can raise dues? I don't think so. Then I think about CCV and believe that property would not likely be affected by a reassessment because it should already be pretty "accurate", right? Also, it's new, so there shouldn't be a lot of "surprise maintenance" etc. So, will all the other resorts start to catch up to CCV in dues?

I don't know. It will just be really interesting to see how all the dues "rank" 10 years from now. I have no actual knowledge on this stuff. Just curious to watch and see what happens. I think I saw that BWV dues used to be a lot more than OKW and also more than BRV and now OKW and BRV are more than BWV. And I think the gap between BWV and BCV is smaller than it used to be as well......