Chicago has been a hotbed for such burdens.

The Chicago City Council approved $2.4 billion in tax subsidies for two major developments in early April. Protesters gathered at City Hall chanting against the deals. Critics said the projects are in prosperous parts of Chicago and developers should pay for infrastructure improvements, not taxpayers.

  • Chicago’s combined Taxpayer Burden: $119,110
  • New York City’s combined Taxpayer Burden: $85,600
  • Los Angeles’ combined Taxpayer Burden: $56,390
  • Philadelphia’s combined Taxpayer Burden: $50,120
  • San Jose’s combined Taxpayer Burden: $43,120
  • San Diego’s combined Taxpayer Burden: $35,410
  • Dallas’ combined Taxpayer Burden: $33,490
  • Houston’s combined Taxpayer Burden: $22,940
  • San Antonio’s combined Taxpayer Burden: $16,660
  • Phoenix’s combined Taxpayer Burden: $13,290

Forbes reported that the city’s taxpayer burden is attached to unfunded retirement obligations amassed over of a number of years: $39 billion in retirement benefits have been promised; $28 billion in pension and $842.9 million in retiree health care benefits haven’t been funded.

Lower in debt were Los Angeles and Philadelphia; Los Angeles’ combined Taxpayer Burden: $56,390; Philadelphia’s combined Taxpayer Burden: $50,120.

The report questioned if cities’ annual financial reports “comprehensively track municipal accounts such as school districts, transit agencies, utility systems, etc.”

 

Annual financial reports “for a city doesn’t present the full picture of their fiscal position, and is deceptive to the public,” the report said.

Founded in 2002, the mission statement of Truth in Accounting is “to educate and empower citizens with understandable, reliable, and transparent government financial information.”