$15.5 Billion Bond Proposals on Texas’ Ballot in May 2024 Election

Estimated Time to Read: 2 minutes

Texas voters, or at least the relatively small number who historically participate in such elections, will decide on nearly $15.5 billion in bond propositions in the May 4, 2024, ballot.

These propositions aim to fund new schools, infrastructure projects such as roads and transportation, water and drainage systems, and cultural arts facilities, among others. They represent new debt and further financial obligations for both current and future generations of Texas taxpayers.

Summary of Propositions

Texas voters will evaluate nearly 250 propositions, most of which are proposed by school districts, totaling approximately $15.5 billion.

Bond Issuer Type Total Bond Propositions $ # of Propositions
City $2,418,230,000 38
School District $9,944,541,784 183
Water District $2,591,370,000 24
Other $456,500,000 1
Totals $15,410,641,784 246

Top Ten City Bond Election Proposals

Across Texas, 38 city bond proposals are listed for the May 4th, 2024 ballot, addressing needs from street and drainage improvements to economic development and homelessness solutions.

City Proposition # Principal Amount $ Purpose(s)
Dallas A $521,200,000 Transportation
Dallas B $345,270,000 Parks & Recreation
McKinney E $243,500,000 Streets & Roads
Irving A $200,000,000 City Hall
Lewisville D $198,900,000 Street & Drainage
McKinney A $106,000,000 Parks & Recreation
Dallas F $90,000,000 Public Safety
Dallas E $75,200,000 Cultural Arts Facility
Dallas G $72,300,000 Economic Development
McKinney D $70,000,000 Public Safety
Totals - $1,922,370,000 -

The top ten most expensive city bond proposals account for nearly $2 billion of the total $15.5 billion on the ballot.

Top Ten School District Bond Election Proposals

There are 183 school district bond proposals, focusing on projects ranging from new schools to stadiums and performing arts centers.

School District Proposition # Principal Amount $ Purpose(s)
Georgetown ISD A $597,500,000 School Building & Buses
Mansfield ISD A $584,500,000 School Building & Security
Galena Park ISD A $530,010,000 School Building & Buses
Argyle ISD A $482,385,000 School Building
Canutillo ISD A $379,000,000 School Building
Barbers Hill ISD A $378,300,000 School Building
Elgin ISD A $366,000,000 School Building & Buses
Godley ISD A $365,000,000 School Building & Buses
Cedar Hill ISD A $278,500,000 School Building
Medina Valley ISD A $249,150,000 School Building & Security
Totals - $4,210,245,000 -

The top ten most expensive school district proposals account for over $4 billion of the total $15.5 billion on the ballot.

Top Ten Water District Bond Election Proposals

Twenty-four water district bond proposals are on the ballot, addressing improvements from water and sewage systems to roads and parks.

Water District Proposition # Principal Amount $ Purpose(s)
Montgomery County MUD 202A D $557,900,000 Refunding
Montgomery County MUD 202A A $346,200,000 Water, Sewage, & Drainage
Fort Bend County MUD 162 A $300,000,000 Water, Sewage, & Drainage, & Refunding
Montgomery County MUD 202A B $180,500,000 Road
Mustang Ridge MUD B $178,875,000 Refunding
Harris County MUD 055 B $177,000,000 Refunding
Mustang Ridge MUD A $143,100,000 Utility
Harris County MUD 055 A $118,000,000 Water, Sewage, & Drainage
Mustang Ridge MUD D $103,000,000 Road & Refunding Roads
Northampton MUD A $86,000,000 Water, Sewage, & Drainage
Totals - $2,190,575,000 -

The top ten most expensive water district proposals account for over $2 billion of the total $15.5 billion on the ballot.

Local Debt High in Texas Comparatively

According to the Texas Bond Review Board, as of FY 2023, Texas local governments had a total outstanding debt of approximately $308 billion—$211 billion tax-supported and $97 billion revenue-supported. Among the ten most populous states, Texas ranks third in per capita local government debt, only behind New York and California.

According to Truth in Accounting, Texas hosts nine of the nation’s 75 largest cities, five of which are considered “sinkhole cities” — they currently lack the financial resources to cover ongoing expenses and pose significant burdens on taxpayers.

Conclusion

Voters should be aware that the bond issuers are required only to disclose the principal amount—not the interest—which means the actual cost to taxpayers will be higher than stated. Previous legislative efforts to require full disclosure have failed, largely due to opposition from local government entities that benefit from these bonds. As Texas continues to grow, the need for infrastructure does too, but it is crucial that taxpayers demand reforms to ensure fiscal responsibility and sustainability.

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