How Much Does Disney Pay in Property Taxes?

Disney's property tax payments can vary significantly from year to year, depending on the specific properties involved and numerous factors. As of my last update in 2021, Disney paid approximately $300 million in property taxes for its various properties in Florida, which include the popular Walt Disney World Resort. This amount can fluctuate based on changes in property values, tax rates, and new developments or acquisitions.

Recent Data and Government Records

For the most accurate and up-to-date information, it is best to check local government records or financial reports from Disney. These sources will provide the most current information regarding their property tax obligations. According to local reports, the Reedy Creek Improvement District pays upwards of $300 million annually in property taxes, with an additional $250 million in other taxes and fees. These figures reflect the significance of property taxes for this district.

Evasion and Appeals

Contrary to what one might expect, Disney has been known to pay significantly lower property taxes than local taxpayers. Every year, local property taxpayers see increases in their tax bills, while Disney receives wink-and-a-nod, low property tax assessments. Furthermore, Disney often appeals these assessments in an attempt to have them further reduced. This raises concerns about fairness and transparency in the tax system.

Transparent Property Tax Information

The financial statements filed by Disney with the Securities and Exchange Commission (SEC) each quarter provide insight into their property tax obligations. Specifically, the 10K filings contain detailed information about their financial standing, including the cash flow section. By examining these documents, interested parties can gain an understanding of the property taxes paid.

Lot Cards: Key to Transparent Ownership and Assessments

A valuable tool for understanding property tax assessments is the lot card, which is available in every town or county in the United States. Lot cards provide detailed information about property values and tax assessments, helping to clarify ownership and other relevant details. For example, Amazon recently built a new warehouse in North Haven, Connecticut. By obtaining the lot card, it was discovered that Amazon does not actually own the land and warehouse; they lease it. The facility is valued at $64 million, but the actual assessed value is $34 million. The owner, 409 Washington Ave LLC, is a foreign-owned entity, and it is not clear whether they are paying property taxes on the site.

General Information and Public Records

In general, the information on lot cards is publicly available and can be obtained without the need for legal assistance. This information is crucial for understanding property tax assessments and ownership. The lack of knowledge about these processes is often due to a lack of education, but increasing awareness can lead to more informed and equitable tax practices. It is hoped that this article will motivate some individuals to delve deeper into the properties in question and advocate for transparency in property tax assessments.