Disney World to Receive Millions in Tax Refunds Following Settlement

[the_grinch]

will this affect DVC owners at all?

https://blogmickey.com/2021/07/disney-world-to-receive-millions-in-tax-refunds-following-settlement/

 

[CarolynFH]

If the settlement includes refunds of taxes paid on the resorts, yes. Property tax refunds paid to the DVC resorts would be paid to the various condominium associations that own the resorts. In normal years, if property taxes paid are lower than what was estimated at the start of the year, owners get a credit against the next year’s MFs. So owners could see some credits against the coming year’s dues. OTOH, I’m not sure whether a tax refund is required to be paid directly to the individual owners - it might be possible for that amount to be added to the capital reserves or applied to some other line item in the budget. I don’t know what the legal requirements might be. But the owners would benefit in any case.

 

[NoTime42]

DVCnews isn’t sure. It seems some DVC properties (among 37) were originally named in the suit but the list of 14 properties in the settlement was not named by the Sentinel:

https://www.dvcnews.com/dvc-program...-property-tax-dispute-dvc-impact-questionable

 

[CarolynFH]

DVCnews isn’t sure. It seems some DVC properties (among 37) were originally named in the suit but the list of 14 properties in the settlement was not named by the Sentinel:

https://www.dvcnews.com/dvc-program...-property-tax-dispute-dvc-impact-questionable

Thanks for the additional information. It sounds like any refund to an individual resort would be pretty small, if the annual amounts are “similar to” $1.5 million total spread across multiple WDW properties.

 

[WilsonFlyer]

Thanks for the additional information. It sounds like any refund to an individual resort would be pretty small, if the annual amounts are “similar to” $1.5 million total spread across multiple WDW properties.

If you think it's small now, wait until Disney applies its "legal fees" against it internally on the books.

 

[AvidDisReader]

If you think it's small now, wait until Disney applies its "legal fees" against it internally on the books.

good point. My internal instinct is that Disney accepted a smaller rebate than they could have received--maybe for a decreased value on properties going forward???? Remember that Disney has already paid these taxes, so it is a true rebate. If the county had to pay back what Disney was actually owed, the county government would have a problem operating. This would in turn be a very poor PR problem for Disney, one the county should of seen coming. The prior assessor was warned several years ago that his method of valuation was NOT what was considered standard in the State of Florida, yet he continued to double down with his over valuations-not just Disney but Universal, Sea World, and other Commercial real estate. He became such a problem, the Democrat Party did NOT support him for re election, but put up a different candidate in the primary-who won.