This report discusses fiscal 2015, the most recent year for which data is available, in which local debt outstanding, or the amount of unpaid principal on debt owed by Texas’ political subdivisions, grew to an estimated $212.4 billion, “an increase of $20.09 billion (10.4 percent) over the past several years” (Texas Bond Review Board, 2). To help rein in the growth of local government debt, state legislators should require political subdivisions to provide voters with more information at the ballot box for each new debt proposition.
Which Local Governments Want to Borrow Big this May?
On May 4, 2024, voters across Texas will go to the polls to say YEA or NAY to billions in new debt put forward by various local governmental entities. Most, if not all, of these bond proposals will put some upward pressure on people’s tax bills, so it’s important that voters keep alert as to...