S&P Global Ratings assigned its 'AA' long-term rating to Waller County, Texas' $28.5 million series 2023 certificates of obligation. The outlook is stable. The certificates are payable from the proceeds of an ad valorem tax levied, within the limitations prescribed by law, on all taxable property in the county. State statutes limit the ad valorem tax rate for counties to 80 cents per $100 of taxable assessed valuation (AV) for all county purposes, with up to 40 cents of the maximum tax rate for repayment of debt service. The tax rate for fiscal 2023 is 54.84 cents, 5.8 cents of which is dedicated to debt service. Based on the application of our criteria, "Issue Credit Ratings Linked To U.S. Public
