Voters in a dozen Texas cities will decide on a combined $2.3 billion in new debt on May 7, Texas Scorecard reported.
Critics point out that these new bonds would add to the debt currently being paid down by city residents, and while property tax rates might remain nominally unchanged, more debt would increase the payment burden for every individual.
“The simple truth is no matter what your appraisal, property tax bills would not be going up unless local jurisdictions wanted to spend more money,” the Texas Taxpayers and Research Association said in a report published earlier this month detailing increasing property tax rates across Texas.
It noted that Texans should expect to experience “sticker shock” when receiving their appraisals this year, but that ultimately residents do have some control over their property tax rates.
“Regardless of your 2022 appraisal, right now your 2022 tax bill is zero,” the organization said. “Your tax bill won’t be set until the jurisdictions in which you reside decide how much money they want to raise and set their tax rates.”
The City of Cedar Park has one bond proposition totaling $158.8 million on the ballot on May 7.
According to the Texas Public Policy Foundation, the state’s total local debt burden including principal and interest was more than $365.3 billion in 2019, or a debt of $12,500 for every Texan.
