Requiring community stakeholders to go through the legislative process—which happens only every other year and for 140 days at that—to make changes to their local retirement systems is an enormous roadblock for even the most motivated parties. Not only does it mean having patience and perseverance but also the right political connections.
This testimony covers remarks today from James Quintero, that focus on three policy areas—property taxes, financial transparency, and local debt. He also offers some suggestions as to how each area might be improved via special purpose district reform.
More and more municipalities are passing nanny state restrictions and regulations that infringe upon Texans’ personal freedoms, property rights, and livelihood.
Most Texans recognize the need for immediate and lasting property tax relief. In fact, it’s so understood that high and fast-growing property taxes are a problem that lawmakers from both political parties are working to advance various tax relief bills in the statehouse. And yet despite the obvious need for reform, mayors from some of the largest cities in Texas gathered earlier this week to voice their opposition to statewide property tax relief efforts, proclaiming: “We know how to manage our budgets” and that “Texas cities are frugal…”
Speaking at the Texas Public Policy Foundation’s 13th annual Policy Orientation last month, Democratic Senator Kirk Watson and Republican Senator Paul Bettencourt showcased a handful of bills that would, each in their own way, provide Texans with some much-needed property tax relief.
There are many reasons for the poor condition of Texas’ public pension systems, but at the root of the problem is the fiscally unsustainable defined benefit system, which guarantees retirees a lifetime of monthly benefits irrespective of the health of the pension fund.
Since fiscal 2009, the total debt owed by cities, counties, school districts, and special districts has grown from $298.3 billion to $333.1 billion in fiscal 2014. That’s an increase of almost $35 billion over a relatively short period, pushing up the total amount owed by each Texan to near $12,500.
The per student debt burden - a figure rarely paid any attention by those advocating for more public school spending-comes to more than $21,850 owed for each of the state's 5.1 million students. Of course, some school districts' owe even more than that.
The Pension Review Board’s (PRB) latest assessment of Texas’ state and local retirement systems depicts a worsening financial condition that could mean higher taxes and fees for future Texans.
Texas’ cities, counties, school districts, and special districts are awash in red ink, and newly obtained data from the Bond Review Board (BRB) shows that the problem is only growing in scope and severity. According to the BRB’s latest figures, local government debt outstanding (principal only) grew to $205.3 billion in fiscal year 2014, an increase...
Americans generally dislike paying taxes, and this sentiment is especially true when it comes to property taxes. According to a study produced by the American Enterprise Institute, of all taxes imposed on the general public, property taxes are the form for which citizens hold the highest degree of indignation. The public’s ill-will is not without merit, according...
Onerous new ridesharing regulations are set to go into effect tomorrow in the City of Houston that will make services like Uber and Lyft more expensive for the average consumer and create additional costs for local taxpayers. Among other things, the new rules will require drivers of transportation network companies (TNCs) to undergo additional background...