A total of 73 taxing entities across the Lone Star State are asking voters to approve over $5 billion in bond debt.
Projects range from $3.1 million for an aquatic center in Marble Falls to $65 million in “affordable housing” in Austin to $217 million in Harris County to convert the Astrodome into a convention center to $490 million in Fort Worth ISD and $451 million in Comal ISD to $490 million in United ISD to build 13 new schools. And Katy ISD is wanting $99 million to build – among other things – as 12,000-seat second stadium/multipurpose facility.
Texas local governments – i.e. Texas taxpayers – are $322 billion in debt (principal and interest). Local debt is growing faster than the increase in population and inflation. Local debt in Texas is second only to New York in per capita debt and second to California in total debt.
We encourage voters to consider this: debt is the legacy we are leaving our children and grandchildren. That is not the legacy most of us want to leave.
We recommend that before you go to the poll to vote on new bond debt, go to the Texas Bond Review Board website – http://www.brb.state.tx.us/ – and look for “Local Debt” and click on your taxing entity – city, county, school district, etc. – to find out how much debt they own now.