From the
Orlando Sentinel
Universal wants bridge — and lower taxes
At the same time Universal Orlando is asking taxpayers to pay for a pedestrian bridge that would serve one of its new hotels, the theme park giant wants Orange County to cut its property tax bill.
On Monday, the Orlando City Council gave its final approval for $9 million in improvements around Universal, including $4.5 million for a pedestrian overpass that mostly will be used by guests at the new Cabana Bay Beach Resort. The plan also must be approved by Orange County commissioners, who will take it up Tuesday.
Meanwhile, Universal has challenged its property assessment, arguing that its 110 acres of theme park land aren't as valuable as county appraisers say. On Tuesday afternoon, the county's Value Adjustment Board is expected to rule in Universal's favor, cutting the assessed value of Universal Studios and Islands of Adventure by $13.5 million. That will shave about $261,000 off Universal's property tax bill, records show.
Universal was hoping to pay less. The company also challenged the property appraiser's valuation of its hotels — Loews Royal Pacific Resort, Hard Rock Hotel and Loews Portofino Bay Hotel — as well as its nearby Wet 'n Wild water park. A special magistrate sided with the company on the value of Universal Studios and Islands of Adventure, but not the other properties.
"When we received our annual assessment from the previous property appraiser, we were faced with sudden, significant increases in our tax bill. We didn't believe the increases were fair and we questioned them, just like any taxpayer would do," Universal spokesman Tom Schroder said in a written statement. "It now looks like we will be paying roughly the same in taxes as when all this started last summer. And we will still be one of the area's largest taxpayers."
Orlando commissioners took a series of votes Monday that will allow the use of property taxes collected within a special taxing district surrounding Universal to pay for the pedestrian bridge. All were unanimous. City officials and Universal executives say it will prevent accidents by keeping pedestrians out of traffic as they cross busy Hollywood Way on their way to the theme parks.
mschlueb@tribune.com, 407-420-5417 or Twitter @MarkSchlueb