by James Quintero and Jess Fields, Texas Public Policy Foundation
In fiscal year 2013, total local government debt, including principal and interest payments, increased to $328.1 billion, growing by more than $5 billion over the previous fiscal year and by almost $30 billion over a five-year period. This new FY 2013 figure means that each of Texas’ 26.4 million residents owes a total of $12,400 per person on behalf of their local governments.
For those interested in a complete breakdown of Texas’ local government debt burden for FY 2013, see below.
Source: Texas Bond Review Board