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DEBT COMPARISONS
BENCHMARK CITIES OVER 25,000 POPULATION (FY2002-2003)
| City |
Pop. |
Assessed
Value |
Assessed
Value/
Capita |
Total Debt |
Debt/
Capita |
Legal Debt
Margin |
Debt
Margin/
Capita |
| Raleigh |
304,152 |
28,086,873,600 |
92,344 |
191,389,855 |
629 |
1,742,303,710 |
6,031 |
| Greensboro |
228,233 |
16,669,834,265 |
73,039 |
249,255,547 |
1,092 |
995,746,229 |
4,412 |
Winston-
Salem |
192,533 |
14,762,435,123 |
76,675 |
185,408,627 |
963 |
968,000,000 |
5,130 |
| Durham |
198,688 |
14,358,304,103 |
72,266 |
158,913,935 |
780 |
1,106,818,034 |
5,791 |
| Cary |
103,866 |
11,158,571,546 |
107,432 |
295,527,902 |
2,845 |
704,915,443 |
7,025 |
| High Point |
88,281 |
6,339,062,451 |
71,806 |
47,601,101 |
539 |
454,269,789 |
5,251 |
| Wilmington |
91,458 |
8,330,246,635 |
91,083 |
40,484,566 |
443 |
436,995,663 |
5,052 |
| Jacksonville |
68,356 |
1,796,709,105 |
26,285 |
9,109,020 |
133 |
113,028,334 |
1,708 |
| Asheville |
71,448 |
6,333,420,110 |
88,644 |
27,915,251 |
391 |
405,092,788 |
5,772 |
| Greenville |
63,485 |
2,958,871,082 |
46,607 |
19,718,082 |
311 |
109,401,355 |
1,789 |
| Goldsboro |
38,706 |
1,449,066,778 |
37,438 |
29,448,450 |
761 |
102,709,009 |
2,668 |
| Wilson |
45,776 |
2,765,325,113 |
60,410 |
2,091,421 |
46 |
194,378 |
4,320 |
| Kannapolis |
38,248 |
1,963,710,886 |
51,342 |
8,374,521 |
219 |
118,539,386 |
3,137 |
| Hickory |
38,604 |
4,315,450,258 |
111,789 |
40,606,204 |
1,052 |
284,866,561 |
7,379 |
| Salisbury |
28,199 |
1,863,799,714 |
66,095 |
4,201,666 |
149 |
123,170,544 |
4,625 |
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| Average |
106,668 |
8,192,915,160 |
71,105 |
85,540,166 |
644 |
532,362,408 |
4,663 |
Although Hickory had 37,975 citizens in FY
2002-2003, its assessed valuation is greater than comparable cities with
populations twice its size. As a result of the appraised value of property in
Hickory, the City is granted a legal debt limit by the State of North Carolina
greater than these larger municipalities. This is indicative of the relative
wealth of the City and its people, and exemplifies the City's enviable financial
status of being a regional employment, retail and service hub. Hickory has
therefore one of the highest assessed valuations per capita of comparable cities
(its wealth), and as a result, has a larger legal debt margin per capita (its
financial status). This wealth and this financial status enables the City to
offer greater levels of service and state-of-the-art facilities to protect its
environment and boost its cultural and social amenities at a now accelerated
rate through long-term financing at very favorable rates.
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