As Disney World reopens its resorts and parks, there has been a lot of discussion surrounding the company’s finances.
While Disney has discussed how its quarterly earnings have been impacted recently (but also left out some pretty big details), there have also been court cases happening involving Disney World’s property.
The Orlando Sentinel has reported that a second ruling has been made in the court case about Disney’s Yacht and Beach Club property appraisal. Orange County Property Appraiser Rick Singh placed Disney’s tax bill upward of $4 million, despite Disney stating that it was unfair.
The original Fifth District Court of Appeal ruling in June stated that Singh’s office had overstated the value of the Yacht and Beach Club and the entire appraisal method used was illegal under Florida law. However, many other property appraisers use this same method for hotel property tax value that’s the primary source of funding for cities, counties, and school districts.
Since multiple Florida property appraisers use this method, Singh asked the court to reconsider their previous decision and narrow down the scope of the ruling. The three-judge panel of the court presented their revised ruling that Singh incorrectly used the “Rushmore” appraisal method without stating that it was illegal.
It also rejected a lower property value that had been suggest by a Disney appraiser, re-ordering Singh to reappraise the Yacht and Beach Club instead. Singh has stated that they hope to arrive “at a fair and accurate assessment of the resort in accordance with the court’s recommendations” to resolve the case.
As the court case progresses, we’ll let you know what Disney’s new property appraisal is for the Yacht and Beach Club Resort!
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What is your favorite Disney Resort to stay at during your Disney World vacation? Let us know in the comments below!
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