Property taxes are a major line-item expense for hotel owners, and the Texas legislature was primed to take up property tax relief this year.
The historic $18 billion tax cut is funded from the state’s budget surplus, and it will have a substantial positive effect on Texas lodging property owners.
Property taxes are high in Texas. With a record state budget surplus, hotel owners are asking ‘What does Texas plan to do to ease their property tax burden?’
For Texas lodging operators, we advise that a hotel not raise its rates to levels that are higher than the rates the hotel would normally charge for that level of occupancy when there is not an emergency.
The 2023 Legislative Session produced very important results for the Texas lodging industry, but it’s not over just yet. A special session has been ordered. Read our Texas Legislature End of Session Report.
The 88th Session of the Texas Legislature is well underway. Of the 500 plus bills being tracked by THLA, the most critical relate to short-term rentals, labor and employment, hotel occupancy tax, and property tax.
Bill pre-filing is underway, and THLA is preparing for the 2023 Texas legislative session.
As of December 21st, 1,457 bills have been filed, which is already a sharp increase from two years ago.