Texas and Georgetown residents are being saddled with massive debt by the city, county and school district. According to the Bond Review Board’s latest annual report, Texas’ local debt per capita ($8,350) ranks as the 2nd highest amount owed among the top ten most populous states.
Only considering city, county and school debt, our local debt per capita is $15,098. That is almost double the Texas average local debt of $8,350.
According to the Texas Bond Review Board report for FY-16, the city of Georgetown owes $317,868,554; Williamson County owes $1,320,901,660; and Georgetown ISD owes $524,374,833. That is a grand total of $2,163,145,047. That is $2.16 Billion dollars that we collectively owe, and that does not include the many smaller taxing districts like ESDs, MUDs, PIDs, etc.
The State of Texas also has debt which adds another $1,470 per capita.
This debt per capita continues to increase at all levels of government and ultimately will negatively impact the economic health and well-being of Texas residents.
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