School districts account for the largest portion of the outstanding debt.BRAD JOHNSONLocal governments in Texas begin the new year with $8,500 in debt per citizen — an improvement from the nationwide high last year but still in the top half of states.
Data from the Texas Bond Review Board (BRB) shows localities across the state have accumulated nearly $250 billion in general obligation debt, which is spending that is financed through property taxes. The other main category of debt is revenue, which is funded through returns from projects like a wastewater system.
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Data from the Texas Bond Review Board (BRB) shows localities across the state have accumulated nearly $250 billion in general obligation debt, which is spending that is financed through property taxes. The other main category of debt is revenue, which is funded through returns from projects like a wastewater system.
Read More.
