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’s Board of Supervisors on Sept. 25 approved its fiscal year 2025 millage and budget, which sees a few changes compared to last year.
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CFTOD Director of Finance Susan Higginbotham presented an overview of 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, which, in this case, is primarily Walt Disney Co.-owned land. The board unanimously passed a millage rate that inched up slightly from 12.95 mills in 2024 to 13.083 in 2025.
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“Our assessed values [are] the basis that our millage rate is applied to to derive our ad valorem tax revenues ... $16.3 billion is [the valuation] we’re receiving from the property appraiser for fiscal year 2025 and that is a 7% increase over our prior year’s assessed value of $15.2 billion,” she said.
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