If RCID is dissolved, what happens with DVC?

[ForWhomTheMouseTolls]

RCID runs at a loss that Disney pays through their taxation authority. The counties can’t raise taxes in that way, which transfers major obligations to counties which can’t charge taxes to pay for them.

This is a massive mess. RCID pays for roads, sewers, power, etc. The counties will need to foot this bill moving forward.

 

[corpcomp]

Much to do about nothing from what I've read on it. Disney already pays property taxes to both counties, the RCID mainly give them autonomy concerning infrastructure. They can build as they see fit as they dont have to answer to the two counties zoning laws etc. Take that away and they are like any other developer, gotta go through the normal county approval for all that.

Walts dealing with anaheim county approval stuff is why they pushed so hard for RCID when building WDW in the first place.

Your purchase of DVC in Orange county is already registered there. So there is no impact on ownership. Any change in taxes should be a wash unless Orange County significantly increases services (fire / police etc...) or their own staff as a result of all this. But then what do I (or any of us) actually know? Just sit back and watch it play out. The Florida House still has to approve.

 

[wolfawk]

More than likely the counties will immediately look to reduce or roll back some services to lower cost. Think of how some of the surrounding roads look, that is what will happen. You will not get the same level of service or commitment when the counties have to worry about the entire region and not just Disney.

So for DVC owners, the pristine roadways and signage may soon become a thing of the past. Indirect impact could be loss of value.

 

[LYSE]

I forgot about seeing that - it is sad. But, even with that delay their response times were good.
Last fall our local 911 was called for a heart attack situation and the local EMS was over 20 mintues out from the end of the call. We feel safer at Disney than at home, as our EMS situations there have always been answered within minutes. (as much as I don't like having to know that) If anyone put Disney on a county wide system like that it would be a tragedy.

If they did get absorbed I would hope they would maintain their special coverage area..it only makes sense and they have everything in place already.

Nationwide ems response is 7 minutes, so disney on that report is well over that already (at least in those examples..not sure if they publish their averages...then again I'm not sure it could be trusted and self auditing is one reason im glad to examine self governance)

 

[lowlight]

I believe this is almost certainly going to pass, neither side can back down and will never see eye to eye. I'm sure it will affect DVC in a multitude of minor ways. I see a lot of concern about how it's going to be responsible for an increase in taxes, but how is it that Universal is so different and not an issue? I'm not asking a leading question, I really don't know why Disney is so different than Universal, which has functioned without the same benefit since inception.

 

[mistysue]

If they did get absorbed I would hope they would maintain their special coverage area..it only makes sense and they have everything in place already.

Nationwide ems response is 7 minutes, so disney on that report is well over that already (at least in those examples..not sure if they publish their averages...then again I'm not sure it could be trusted and self auditing is one reason im glad to examine self governance)

I hope they would maintain that coverage area too. In my area it's become a trend to cut and move to county wide services drastically increasing response times, which clearly are horrible, but if they were at the mercy of Orange county I don't know what anyone could do to prevent my scenario from happening there.

 

[M:SpilotISTC12]

Obviously the initial buy in is expensive, any one see any change in the value going forward?

 

[The Prophet]

WDW is contained within Orange and Osceola counties and I see taxes rising in both to absorb WDW
I also see the tax part of our annual maintenance increase as well

There will be no winners in this

 

[kilik64]

WDW is contained within Orange and Osceola counties and I see taxes rising in both to absorb WDW
I also see the tax part of our annual maintenance increase as well

There will be no winners in this

Not true. Im sure the Lawyers will win. They always win.

 

[redboat45]

Agree. And anyone who views this as not being political, and they only did it for the benefit of the residents, answer me this - when have you ever seen something like this get to a legislative body with 1-hour's notice and was voted through? Not only is there a lot of conversation out on these posts regarding confusion of its impact on Disney and DVC, but I would contend the legislators who passed it with no questions asked have no clear idea of the ramifications. This wasn't even on anyone's radar in the Florida government until Disney voiced an alternate opinion to a new law, and some in the government decided that was unacceptable and went digging for retribution. It's the definition of political retribution.

every year with the budget in Congress and a lot of other bills.

 

[corpcomp]

Obviously the initial buy in is expensive, any one see any change in the value going forward?

Like in The Field of Dreams
"People will buy, Ray, People will definitely buy"

 

[The Prophet]

Not true. Im sure the Lawyers will win. They always win.

Don't forget the Bankers.

RCID has approximately $1 Billion of munis outstanding
If the district is dissolved, both Orange and Osceola counties will need to assume this debt

 

[redboat45]

If the RCID is dissolved, and the county has to pick up costs for fire, etc., those are very likely to increase property tax rates for all residents, which in turn, would raise the rate we pay as owners as well. So, I do think there could be a potential impact.

it would be the same amount of taxes just paid to someone else. Disney will most likely have to pay higher taxes as it's their property but then they wouldn't have the cost of RCID coming out of their pockets. So zero change.

The only thing I worry about and it doesn't affect me is all of the retired firefighters etc. that get their health insurance etc. through RCID.

 

[redboat45]

Don't forget the Bankers.

RCID has approximately $1 Billion of munis outstanding
If the district is dissolved, both Orange and Osceola counties will need to assume this debt

I don't think so. Disney would have to pay that.

 

[The Prophet]

I don't think so. Disney would have to pay that.

Then you would need to change the law. "Under current Florida statutes, the debts and assets of a special district that is dissolved are passed to the municipal government that takes over."

 

[AvidDisReader]

I don't think so. Disney would have to pay that.

That is incorrect. There are several news items stating that if RCID is dissolved that the counties will have to pay. The amount is closer to 2 billion on outstanding bonds. The counties will have to find a way to increase taxes to pay these bonds. Therefore, we DVC owners will most likely see our pocketbooks getting hit is some way. I hope Disney is quietly going behind closed doors and groveling to please have this go away, pretty please.

 

[The Prophet]

Keep in mind that if passed, this will take effect on June 1, 2023
A lot can happen in thirteen months, including management changes in Burbank, CA

 

[Marionnette]

If passed, this bill will not go into effect immediately. It is slated to become effective on June 1, 2023. All 6 special districts that will be affected will have the ability to request to be re-established next year.

 

[WilsonFlyer]

It's funny to me to see how people can sometimes see a game of checkers going on when the players are actually playing chess. At a championship level.

Never underestimate how many moves ahead your opponent may be.

This whole thing reeks of a huge nasty play that both sides were in on all along. chapstick does the dirty work. He takes his buyout and goes sailing in the Caribbean. Eisner comes back as the savior and all is good with the world. But not everything is undone.

It's fun to watch it unfold from 100k feet without blinders on.

There's a big play going on here. And everybody's in on it. Except us.

 

[kilik64]

It's funny to me to see how people can sometimes see a game of checkers going on when the players are actually playing chess. At a championship level.

Never underestimate how many moves ahead your opponent may be.

This whole thing reeks of a huge nasty play that both sides were in on all along. chapstick does the dirty work. He takes his buyout and goes sailing in the Caribbean. Eisner comes back as the savior and all is good with the world. But not everything is undone.

It's fun to watch it unfold from 100k feet without blinders on.

There's a big play going on here. And everybody's in on it. Except us.

Doing a little day drinking over there?