In September 2012, the City of Austin had about $830 million in net total tax-supported General Obligation bond debt. This is debt that is directly supported by property tax revenue.
Austin's debt per capita is $1,287. The debt-to-assessed value (AV) ratio is 1.24%. This means that the City’s debt is 1.24% of the total assessed value of properties within city limits. These figures are lower than the national median for cities with more than 500,000 people, according to Moody’s data. The national median debt per capita is $1,525 and the median debt-to-AV ratio is 2.2%.
The City has an AAA credit rating, which is the highest credit rating given by the three major credit rating agencies. Credit rating agencies consider four primary factors when rating a municipality’s credit: economy, finances, debt and management.
The City’s credit rating shows that it maintains a good standing with the credit rating agencies and is looked at favorably in how it implements capital programs and structures its debt.
