Each Phoenix taxpayer on the hook for $11,850

Phoenix taxpayers are on the hook for more government debt than they think, according to a new report by the government finance watchdog group Truth in Accounting.

Earlier this year, TIA released a separate report that found the City of Phoenix had a Taxpayer Burden™ of $5,300, which is each taxpayer's share of municipal debt. You can also think of this as the amount of money each city taxpayer would have to contribute for Phoenix to pay all of its bills.

Phoenix, like many other cities, does not include the finances of local government units in its annual financial report that city taxpayers are also responsible for, such as public school districts.

Our new analysis, which you can find here, assesses the financial condition of these local government units in Phoenix, as well as Maricopa County.

If you combine the Taxpayer Burden of Phoenix ($5,300), the largest local government units within the city's jurisdiction ($3,050), and the state of Arizona ($3,500), the overall Taxpayer Burden comes out to $11,850.

Of the local government units included in the analysis, Maricopa County accounts for 31 percent of the Taxpayer Burden, or $960 per Phoenix taxpayer.

When the unfunded debt of the state, the city and its local government units are combined, Phoenix ranks No. 1 out of the 10 most populous U.S. cities with the lowest overall Taxpayer Burden. You can find the other cities' reports and full ranking here.