Central Florida tourism district proposes Disney property tax decrease

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

The Central Florida Tourism Oversight District may lower property taxes on its stakeholders — likely good news for several businesses within its boundaries, including Walt Disney World.

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The district, at its July 26 meeting, will vote to approve a new proposed millage rate — or tax rate — levied on the taxable value of land that helps determine the property taxes paid by property owners — in this case, primarily Disney-owned land. The district’s millage rate will drop to 12.95 mills — or 1/1,000th of a dollar levied on property assessments — for the district’s fiscal year 2024, which starts on Oct. 1, down from 13.9 mills this year.

The new millage rate decision comes after taking stakeholder feedback to improve the overall business environment, District Administrator Glenton Gilzean Jr told Orlando Business Journal in an exclusive interview. He said one of his and the board’s goals as the new district gained speed since being created in February was to be independent and fair.

Click here to read the full story on the Orlando Business Journal’s website.