Austin : State Data and Comparisons : Data-Z

Austin, TX

TIA Data

2023 Financial State of Austin (Released 02/27/2024)

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Austin owes more than it owns.

Austin has a -$11,700 Taxpayer Burden.™

Austin is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Austin only has $5.9 billion of assets available to pay bills totaling $9.8 billion.

Because Austin doesn't have enough money to pay its bills, it has a -$3.9 billion financial hole. To erase this shortfall, each Austin taxpayer would have to send -$11,700 to the city.

Austin's reported net position is inflated by $433.9 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 164 days after its fiscal year end, which is considered timely according to the 180 day standard.