The famed & beloved national treasure theme park known as “Disneyland” announced that they are considering on a $1 billion expansion of the park. This would include a variety of new rides, theme parks and attractions that’ll surely not just bring new customers to the park but old ones as well. Unfortunately in order for this deal to pass through the Walt Disney Company is asking the Anaheim, the city in which Disneyland is located in is asking that they forgo any taxes on theme park admission tickets for the next three decades.
This isn’t much to ask as the $1 billion expansion would earn the city millions just on its land tax of the new property that Walt Disney Co. would own. If they allow for this to be the case then a new parking structure with 5,000 spots would be created and other improvements to the rest of the park would also be made. The City Council is deciding on this matter on July 7th but there are no guarantees of this deal happening as the previous entertainment exemption tax that Walt Disney Co. started back in 1996 expires on June 30th, 2016. This being a year away means that it wouldn’t be another thirty one years until Disney would have to pay this tax.
None the less this deal will more than likely pan through as the city council knows how much money Disneyland could bring in for just not the city but the county as well with a new expansion. We shall keep you posted as to what happens.