New Advocacy NEWS AAHOA-2024
Dec 01, 20231 comments
New Advocacy NEWS AAHOA-2024

Texas voters approved Proposition 4, a constitutional amendment reducing property taxes this year. AAHOA and the Texas Hotel & Lodging Association, which collaborated to support the amendment, said Proposition 4 ensures property tax relief for commercial hotel properties.

The amendment allocates $12.6 billion in state funds for public education, lessening reliance on local property taxes, according to AAHOA. Moreover, it raises the Texas franchise tax exemption from $1.24 million to $2.47 million, providing businesses with tax relief, and caps appraisal values for commercial properties under $5 million.

Proposition 4 was passed with over 83 percent of the vote, emphasizing to legislators the priority of reducing property taxes.

In March, AAHOA’s former chairman Nishant “Neal” Patel testified before a legislative committee in the regular session, underscoring the substantial property taxes hotels pay annually and stressing the necessity of reforming the valuation of commercial properties.

“Although Texas is often recognized as a low-tax state, primarily due to the absence of a state income tax, property owners in the state contend with some of the highest property tax bills in the nation,” said Laura Lee Blake, AAHOA President & CEO. “AAHOA and THLA will continue to advocate on behalf of hotel owners in the state of Texas, ensuring the viability of their businesses and a reduction in unnecessary and exorbitant property taxes.”

 

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