Yesterday, the OC Register released an article saying that Disney wants to invest $1 billion into the Disneyland Resort with expansions in order to extend the no tax on tickets for another 30 years. Currently there is no tax on tickets, but this policy from Anaheim is set to expire next year (we posted an Op-Ed about it here) 2016 could see both an increase in ticket prices and tax on top of that. Disney wants to alleviate the tax burden by investing the billion into the resort, and it would include road improvements for the city. A similar investment was made when the Disney California Adventure park was being built, which also created Downtown Disney. Roads were redone as a cost to the company and the tax ban was instated because of it.
It’s unknown exactly what kind of expansion would take place. The speculation is more parking and more hotels at least. But, it includes the parks as well. It’s been stated that there will be no third theme park, but the current two could expand under this proposition. Another way to extend the tax break is to invest $500 million into the resort, which would have the no tax policy be 15 years from 2016, not the 30 with the billion dollar plan.
A hearing will take place on July 7 to see if it is all worthwhile to have no taxes on the tickets. The original OC Register article can be found here.
OC Register has released an article on June 28 saying that Disney has officially said they would invest the billion into new projects for the resort if there is a tax break.
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