San Antonio Taxpayers on the Hook for $19,200

Truth in Accounting released their annual report on the debt for America’s 10 largest cities. The City Combined Taxpayer Burden Reportincludes the city’s largest underlying government units, such as counties and school districts. With the exception of New York City, most municipalities do not include in their annual financial reports the finances of large, underlying government units for which city taxpayers are also responsible. When adding the Taxpayer Burden of these underlying government units with the city and state Taxpayer Burden, it is clear that the debt is much greater than what one would assume.

At the end of the fiscal year 2019, the Taxpayer Burden for the city of San Antonio is $3,500. However, when adding school and transit district debts to San Antonio’s debt, San Antonio taxpayers are on the hook for $7,900. According to Truth in Accounting, each Texas taxpayer must also pay $1,300 to get the state out of debt. Altogether, San Antonio taxpayers are on the hook for $19,200. While this may seem like a large sum, out of the 10 most populated U.S. cities Phoenix and San Antonio taxpayers have it best.

This report analyzes the fiscal health of the 10 most populous U.S. cities pre-COVID-19. In conclusion, Truth in Accounting’s analysis aims to help readers understand the implications of city, county, and underlying governmental units’ debts, which creates high levels of Taxpayer Burdens for individuals living within cities that need proper resources to function and stay afloat. Overall, this report highlights the financial struggles each city went into the pandemic with and we can assume the fiscal health of these cities worsened during the pandemic.

Anna D'Aprile is a press and communications internet at Truth in Accounting