Orange County Property Appraiser Appealing Disney Value Judgement
The Orange County Property Appraiser is appealing a decision by a judge who sided with Disney in a property tax dispute.
The judge ruled that the appraised value of Disney’s Yacht and Beach Club for 2015 should be reduced by 40 percent, and more than one million dollars be returned to Disney.
Property appraiser Rick Singh argues there was an error in the formula the court used to determine the appraised value and is asking the court to take another look.
"We are confident that a closer review of the calculations used to determine value will result in the ruling being overturned. It is simply illogical that The Yacht and Beach Club – with nearly 1200 guest rooms and over 100,000 square feet of meeting space – has a market value of $209 million,” said Singh in a statement.
Property taxes paid by owners are based on appraised value.