Disney had filed a series of lawsuits contesting recent Walt Disney World property value assessments for a number of their hotels and resort areas.
- According to the Orlando Sentinel, Disney is disputing the tax bills for 11 properties, claiming the valuations on them are inaccurate.
- This has resulted in three separate lawsuits filed in Orange County, Florida this week.
- If this sounds familiar, it’s because the resort has filed similar suits in the past. In fact, the company is currently waiting on a judge’s to rule on a suit from 2015.
- Unlike in some previous years, Disney did not specify how much lower they believe the property values to be.
- Other theme park resorts including Universal Studios and SeaWorld have also filed similar lawsuits in the past.
By the numbers:
- Disney is disputing the assessments of several property values. Here are some of the values Orange County Property Appraiser Rick Singh’s office assigned to certain Walt Disney World assets:
- Disney’s Grand Floridian Resort: $183 million
- Disney’s Contemporary Resort: $113 million
- Disney’s Polynesian Village Resort: $95 million
- Disney’s Yacht and Beach Club Resorts: $206 million.
- Magic Kingdom parking lot and access roads: $8 million
- Previous lawsuits disputed the values of other properties, including:
- Epcot: $446 million
- Magic Kingdom: $437 million
- Disney’s Hollywood Studios: $339 million
- Disney’s Animal Kingdom Lodge: $153 million
- Disney’s Caribbean Beach Resort: $209 million
What they’re saying:
- From Disney’s lawsuit: “The assessments do not represent the just value … because they exceed the market value.”
- Rick Singh, Orange County Property Appraiser: “For someone to say we are using inappropriate methodology is ludicrous … We will vigorously defend our values because we are confident of our values.”