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City Combined Taxpayer Burden Report 2021

MAY 11, 2021

**Click here to view a PDF report**

Truth in Accounting has released a new analysis of the 10 most populous U.S. cities that includes their largest underlying government units. With the exception of New York City, most municipalities do not include in their annual financial reports the finances of large, underlying government units for which city taxpayers are also responsible, such as school districts, and transit and housing authorities.

This report takes into account these underlying government entities and provides residents and taxpayers in these cities with a more accurate and holistic view of their respective city’s finances. We only include underlying entities that city governments claim responsibility for in their annual financial reports. These underlying governments are essentially subsidiaries of the city and the majority of their debt falls on all city taxpayers. When the unfunded debt of these underlying government units is combined with the county, municipal, and state debt, city taxpayers are on the hook for much more than they think. 

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Local Government Units in States

For 2022 the U.S. Census Bureau reported the number of local governments in all the states.  As to be expected the smallest states had the fewest local governments.  However, the states with the most local government units were not necessarily the largest. 

Bachelor's Degree Median Income in Cities

For students graduating soon, it might be worth looking at the median income for people with a bachelor's degree only in different cities.  For information about median earnings for men and women by education in the 75 largest cities check out our interactive database at Data.Z.org

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Custom Analysis

Our proprietary methodology analyzes government financial reports to develop a comprehensive, concise view of state and municipal finances, including all assets as well as pension and retirement health obligations not completely disclosed in financial reports. Learn how we can help you discover the truth about your government's fiscal condition.

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Download our comprehensive reports on state and municipal finances–including "The Financial State of the States"–for free. Former U.S. Comptroller General David Walker has said, "While other organizations have compared the states' unfunded retirement liabilities, only this report has determined the overall financial condition of every state."

CLICK HERE TO DOWNLOAD OUR LATEST FSOS REPORT (SEPTEMBER 2021)