there seems to be a lot of confusion by these Moon Bats about this issue.
Here is an article that destroys some of the misconceptions.
If you are a Moon Bat (and you know who you are) read this first before posting your stupidity.
For instance, since there are a few stupid Moon bats that think somehow taxes are going up because Reedy Vreek is dissolved:
4. Property taxes will soar if Reedy Creek is dissolved.
If this passes the House tomorrow, this will be one of the WORST things to happen to Central Florida.
Property taxes will soar and basically make it impossible for most cast members to live nearby and work at Disney. Leading to an exodus of the workforce and talent. https://t.co/fVce6bb9OL
— DSNY Newscast (@DSNYNewscast) April 20, 2022
I really enjoy DSNY Newscast and recommend people follow the service. Good stuff both on Twitter and on YouTube. In this case,
however, this one just isn’t true. I can’t see any reason that Central Florida property taxes would change if the Reedy Creek Improvement District is dissolved. It appears that two Disney quasi-cities with populations of less than 100 would take on the Reedy Creek debt (Lake Buena Vista and Bay Lake). That would ultimately be devastating to Disney as the two cities are inside Walt Disney World’s twice-the-size-of-Manhattan borders. In this regard its easiest to think of Disney World as a sort of giant Vatican City inside Central Florida which itself holds three cities. The third city, Celebration, would not take on the debt as it resides in a separate county.
How much debt would those two quasi-cities take on? Approximately $1 billion. But again, those exist inside Disney. If they were to fold and the two counties (Orange and Osceola) took on the liabilities, Florida and the counties might take legal action against Disney for the financial mismanagement (that’s likely what they would claim, not that it is an objective fact). Also, in a very complicated situation, Disney actually has sole control over Reedy Creek via a land ownership clause… so Disney might be the sole target of any claims of financial malfeasance should everything fall apart.