Quantcast

Ft Worth Times

Tuesday, November 5, 2024

New Burleson bond issue on ballot on May 7: tax group says, 'Right now your 2022 tax bill is zero'

House g8585f0110 1280

A dozen cities have bond referendums May 7. | Tumisu/Pixabay

A dozen cities have bond referendums May 7. | Tumisu/Pixabay

Voters in a dozen Texas cities will decide on a combined $2.3 billion in new debt on May 7, Texas Scorecard reported

The city of Burleson has a two bond propositons totaling $8 million on the ballot on May 7.

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 (TTARA) 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 Texans 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."

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.      

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS