Comptroller Susan Combs has issued another report – just as we go to polls across the state to vote on as much as $6.7 Billion more in local debt. And she reveals that debt service has grown five times faster than student enrollment!
Here again Combs has earned her designation as Trailblazer for Transparency!
Here are some of the findings:
If you own property in Texas, you are probably paying property taxes to fund school construction.
Public school districts account for the largest share of most property tax bills in Texas. In fiscal 2013, they also held a third of all outstanding debt issued by local governments — $65.1 billion.
According to Texas Education Agency (TEA) data, that’s $13,380 for every student in a district with debt. The share of all public and charter school expenditures spent on debt repayment — largely for construction — has grown from 7.6 percent in the 2002-03 school year to 10.8 percent in 2012-13.
During the same period, the TEA data show debt service spending rose by 103 percent, while enrollment grew only 19 percent.
You can look up the construction costs in your own ISD – here is the site: http://www.texastransparency.org/Special_Features/Your_Money/School_Construction/Lookup_Tool.php#lookupTable