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Texas schools get funding from natural resources

August 27, 2008

The Texas General Land Office is that state’s oldest agency, and originally responsible for giving out land titles.  But today it continues to manage 20.3 million acres of land and mineral rights.  (That’s 466 square miles, just a tiny piece of the state.)  Revenue, about $800 million annually, goes into the School Fund, supplementing the $22 billion already there, the income from which goes to public schools.

While this demonstrates that land rent can be used to fund schools statewide, the GLO is hardly a pure implementation of Georgist theory.  It continues to sell (and buy) land, and gets involved in developments which might not make economic sense but benefit insiders.

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