Glenn Hegar, Texas Comptroller of Public Accounts released information from Texas Transparency that showed that the City of Howe’s debt ratio has improved steadily since 2009 when the city passed a bond of $1,550,000. The numbers reflect authorized but unissued tax-supported debt as of August 31, 2014. The current tax supported debt listed showed Howe to be at $1,320,000.
With a 2,614 population reported in 2014, that gives Howe a $505 tax supported debt outstanding per capita.
Other cities similar in Howe’s size differ greatly but show Howe to be in a pretty healthy state. The City of Merkel has a population of 2,601, yet have a tax supported debt outstanding of $6,919,000 which equates to a $2,660 debt per capita. The City of Seymour, population 2,634, has no outstanding debt.
How does Howe compare to other local cities? Van Alstyne shows a debt of $3,705,000 or $1,150 debt per capita. Anna, who has had over 100 percent population change recently, has a debt of $16,409,000 with a ratio of $1,552.
Howe’s $0.69 proposed tax rate to be approved this month includes $0.179513 on each $100 valuation of property for the purpose of principal and interest on bonds and certificates of obligation.
