Laurens may be surrounded by a debt crisis--from Wall Street to California, from Athens to Washington, D.C.--but local governments are in excellent shape.
Pocahontas County carries no debt whatsoever.
The city of Laurens owes $2.6 million, about $2200 per resident. All the cities of Iowa average about $1500 in debt per resident of Iowa. (Unfortunately this figure assumes all Iowans live in a municipality.) Emmetsburg and Pocahontas each carry about $1800 per resident.
The Laurens-Marathon school district is paying off a debt of $2500 per student. Sioux Central's debt is similar. Pocahontas Area Community School owes nearly eight times as much per student as Laurens, due to the new construction nearing completion. Their enrollment will also increase if they combine with Palmer-Pomeroy in the near future. A vote will be held this winter.
Iowa Central Community College also appears on our property tax bills. ICCC owes $37 million. Its debt ranks exactly in the middle of Iowa's thirteen community college districts.
So that leaves personal credit card debt and mortgage or car payment debts. How is your new year looking?
The figures in this story are derived from data at the office of the State Treasurer.
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