Property values fall in Disney’s district
Wed, 28 Jul 2010 Yet another sign of the times: Property values at Walt Disney World are continuing to slide.
Budget writers with the Reedy Creek Improvement District, the semi-autonomous government that oversees Disney World’s land, said today that preliminary estimates show land values have fallen by about 3 percent from a year ago.
Assuming the forecast holds, it will be the second straight year property values have declined within Disney’s district (though the drops in Reedy Creek aren’t nearly as steep as those recorded in other jurisdictions where there is lots of residential development).
The land within Reedy Creek is now preliminarily valued (for tax purposes) at a shade under $7 billion.
Look for Reedy Creek — with Disney’s blessing — to raise property taxes somewhat to offset the lost land value.
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