Debt-At-A-Glance



City of Lubbock

Pop. 236,065

% Change Population, 2003-2012

+13.1% Lubbock +7.9% U.S.

Source: U.S. Census Bureau


The data on this page is provided as of the date indicated and may not reflect debt, population or other data as of any subsequent date. See, also, the Debt-at-a-Glance homepage for other explanations.

Current Debt Obligations

Debt Outstanding Lubbock, Texas
as of August 31, 2012 [What's this?]

Tax Supported Debt [ ? ] $983,415,000 
Revenue Supported Debt [ ? ] $71,960,000 
lease-purchase obligations [ ? ] $0 

Source: Texas Bond Review Board

Sales Tax Rate in Fiscal Year 2014
$0.015000


Property Tax Rate in Calendar Year 2013
$0.492110
(Per $100 Valuation)

How Lubbock Compares

Total Debt Outstanding for Cities of Similar Size, as of August 31, 2012

City Name Total Debt
Outstanding
Debt Outstanding
Per Capita
Population
Corpus Christi  $863,625,000  $2,766  312,195 
Plano  $372,970,000  $1,371  272,068 
Laredo  $618,379,000  $2,527  244,731 
Lubbock  $1,055,422,000  $4,471  236,065 
Garland  $810,824,750  $3,472  233,564 
Irving  $587,790,000  $2,607  225,427 
Amarillo  $191,832,229  $982  195,250 
Grand Prairie  $326,310,000  $1,795  181,824 
Brownsville  $465,613,000  $2,585  180,097 
Pasadena  $187,125,000  $1,229  152,272 

Source: Texas Bond Review Board, U.S. Census Bureau
Note: The table includes Lubbock and nine cities with closest population numbers based on U.S. Census Bureau population data. Total Debt Outstanding includes tax-supported debt and may include revenue debt and lease-purchase obligations. For cities with municipal gas and/or electric utilities, regional airports, or other capital assets not common to cities generally, Total Outstanding Debt may include debt for infrastructure that in other cities is carried by private enterprises or not at all. Population figures are 2012 U.S. Census estimates.

Certificates of Obligation Issuances [What's this?]

Source: Texas Bond Review Board
Note: Amounts are absolute and have not been adjusted for inflation or population growth.

Most Recent Bond Election

The City of Lubbock had no bonds on the ballot in November 2012, May 2013 or November 2013.

Source: City of Lubbock
Note: Does not reflect authorized but unissued debt, if any, approved at earlier elections.

Proposed Bond Issuances

ElectionPropositionPurposeAmount
None. 

Note: Reflects only referenda currently known and verified by the Comptroller's office at this time. If information is available for an upcoming proposed bond election, please contact us.

Debt Trends

Debt Per Capita changed by +156.1%
from 2003 to 2012.

City of Lubbock Debt Per Capita Outstanding at Fiscal Year End: 10-Year Trend

Sources: Texas Bond Review Board, U.S. Census Bureau, Bureau of Labor Statistics
Note: Some debt issued before 2002 may not be reflected. Reflects debt in 2012 dollars divided by estimated population in the relevant year.

Authorized But Unissued Debt

After voters approve tax-supported debt for a local entity in an election, the entity applies to the Attorney General (OAG) to approve issuance before debt is issued. Typically, the entity does not apply for the OAG to approve the total debt package at once, but rather over time so that it can manage the projects and reduce interest expense. Authorized but unissued debt totals are the remaining voter approved tax-supported debt that the entity has not issued yet and may be issued in the future.

ElectionProp.PurposeAuthorizedIssuedUnissued
5/2004  Prop. 1  Street  $9,210,000  $8,764,000  $446,000 
5/2004  Prop. 4  Police Station  $3,350,000  $945,000  $2,405,000 
5/2004  Prop. 7  Animal Shelter  $1,045,000  $160,000  $885,000 

Source: Texas Bond Review Board
Note: Reflects authorized but unissued debt as of August 31, 2012. Some debt authorized prior to 2002 but still unissued may not be reflected.

An Introduction to Understanding Comprehensive Annual Financial Reports

When you’re ready to learn about a public entity’s fiscal health, you’ll find a great deal of information in comprehensive annual financial reports (CAFRs) and other yearly reports. Often posted online alongside other financial information, CAFRs report an entity’s accounting statements, debts and other key information for the past year.

But sometimes that information can be tricky to find – and tough to understand. Because of that, our office compiled some tips for locating an entity’s CAFRs and for understanding them. You’ll learn how all CAFRs have certain similarities and when and why different entities’ CAFRs will differ in key ways. Plus, we detail strategies for pinpointing the debt, expenditure and revenue information you need to hold a government entity accountable.

Note that the data in the following publications is presented as of the dates indicated in the publications and may not reflect debt, population or other data as of any subsequent date. For further or more current information, see the applicable entity’s web site or its most recent filings at Electronic Municipal Market Access (EMMA®). The Comptroller does not control or guarantee the accuracy, completeness, or currency of any such site. When you access any such site, you will be leaving the Comptroller’s website.

Read our Guide to Understanding
Comprehensive Annual Reports (CAFRs)

To learn more about the finances of public pension plans that may operate in this jurisdiction, please visit our public pension search tool.


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