Texas ranks #2 in local debt per capita among all 50 states. This is not an honor to be #2! Debt is paid by taxes, so more debt means more taxes.
What drives the debt and thus taxes? Spending of course! All our local taxing authorities need to rein in their spending. Just because property valuations increase at double digit rates is no reason for spending to grow at double digit rates.
Debt payments can crowd out money for essential services and individuals have less money to spends which negatively impacts economic growth and entrepreneurship. In other words, debt is "bad".
Let your council members, county commissioners, school boards and other taxing entities know they need to restrict spending to no more than inflation plus population growth. Oh wait!, It appears the state legislature may limit revenue growth to either 2.5% or 3.5% unless an automatic vote of the people authorizes higher revenue growth.
Stay tuned!
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