On Friday afternoon, Florida Gov. Ron DeSantis signed into law a bill that revokes the Walt Disney Company’s special district status in the state. The law that is set to go into effect in June 2023 strips Disney of self-governing privileges and special tax status that the company enjoyed for 55 years.

The bill signed by DeSantis “dissolves certain independent special districts; authorizes reestablishment of certain independent special districts.” The bill would dissolve the Reedy Creek Improvement District – which allows Disney to operate as a special taxing district and provides the theme park company with the “same authority and responsibility as a county government,” according to the Reedy Creek Improvement District website.

Walt Disney maintains typical municipal services like power, water, sewage, roads, and emergency services.

Some tax officials warn that revoking Disney’s special district status as a self-contained government could increase property taxes on residents of Orange County up to 25%.