The city of Houston released a new report that pegged the city’s pension liabilities at $5.6 billion in FY 2015, billions more than in the previous fiscal year.
Based on the evidence and the fact that more than 40 percent of DISD’s schools received a failing grade, it’s clear that the district, and others like it, are in need of significant policy improvement—and that more money isn’t the answer.
Texas also ranks poorly on a per capita basis. Compared to its large state peers, Texas’ local debt per capita ranks as the second highest burden, with each Texan owing $8,350 for his or her share. Only New York’s local debt per capita totaled more, with each New Yorker owing more than $10,600.
According to the Texas Bond Review Board (BRB), local debt outstanding reached more than $225 billion in fiscal year 2014, representing almost 85 percent of total Texas debt.
In the short term, the goal ought to be to contain fast-growing property tax bills by capping how fast property tax revenues can grow from year-to-year.
New data from the Bond Review Board (BRB) show that Texas’ local governments have amassed debts totaling more than $338 billion, an increase of just over $5 billion from the last fiscal year. That works out to be roughly $12,250 owed per Texan.
According to the city’s Department of Planning and Community Development, the annual tax bill for a home appraised at $113,800 is expected to grow from $2,342.35 to $2,859.69 simply as a result of being absorbed into the city limits. That’s a tax increase of more than 22 percent! Worst of all, it’s going to be levied on people who have absolutely no say in the process.
In recent years, the Mackinac Center has found per-pupil savings ranged from $34 for food contracts, $110 for transportation and as high as $191 for a custodial services.
Former U.S. Senator Phil Gramm has a message for his fellow Texans: It’s time to end forced annexation in the Lone Star State. In a just-released video, Senator Gramm calls on policymakers “to right a terrible wrong that’s occurring in our state” by overhauling municipal annexation policies in Texas. Right now, cities are allowed to...
For all the talk about Austin’s affordability challenges, Central Texas’ local governments continue to raise taxes and fees, pushing up the cost of owning a home and pushing out many longtime residents.
Why is Austin ISD considering a near double-digit budget increase while student enrollment is declining and property tax bills are soaring?
Spending one-time monies — like those in the reserve fund, on recurring expenses — like salaries, is never a good approach.