Local government debt grew by several billion dollars this year, according to new data from the Texas Bond Review Board (BRB).
According to the BRB, local debt service outstanding—or “the amount that is required to cover the repayment of principal and interest on a debt” held by political subdivisions—rose to more than $342 billion in FY 2016, a jump from $338 billion owed in the previous year. That works out to be about $12,450 owed for every man, woman, and child in the state.
The two entities with the most debt are school districts and cities, owing a total of $119.9 billion and $106.2 billion respectively.
Source: Bond Review Board