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.