The Board of Supervisors for the Central Florida Tourism Oversight District has approved a lower property tax millage rate of 12.95 mills versus 13.90 mills. The millage rate is the amount of property tax charged per $1,000 of taxable property value and property taxes represent the vast majority of income for the District. The lower millage rate was approved by the Board in a meeting this morning.
Board Chair Martin Garcia commented about the millage change, outlining all of the things that he thought would cause District costs (and taxes) to increase such as pending lawsuits and “11th hour agreements” by Disney. Garcia said that one of the cuts that District Administrator Glenton Gilzean found was $8 million for law enforcement overtime pay exclusively for Walt Disney World properties. Garcia vowed that even more excess would be found as they continue to dig in.
Earlier this morning, the District released a statement about the proposed property tax decrease:
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