Electricity:

The colder than average temperatures experienced February & March of 2005 & the warmer than average summer temperatures contributed to increased electricity usage overall for 2005.

Lodging Tax:

The increase in Itasca County's lodging tax collection in 2005 reflects the inclusion of additional properties agreeing to voluntarily collect the tax and expansion of lodging tax ordinances. The money collected from the 3% lodging tax is used exclusively for tourism marketing and promotion.

Timber Deliveries:

In addition to aspen, local timber companies are using more balsam and spruce as well as alternative species which has increased availability of wood. Dry conditions and good weather during the late summer and fall of 2005 contributed to record timber deliveries.

Employment:

On average, more people were employed in Itasca County during 2005 than in the past five years. Employment levels have increased since the layoffs at UPM Blandin in 2003.

Unemployment:

The average unemployment rate in Itasca County was the lowest in five years. The unemployment rate is the number of unemployed as a percent of the entire available labor force. In 2005 an average of approximately 1,300 people who were at least 16 years of age and available for work and had made specific efforts to find employment were unemployed.

Annual Average Income:

Itasca County workers earned nearly $10,000 less in annual average wages paid per job than Minnesota workers. This disparity has been steadily rising since 1980 when Itasca County’s annual average wage was consistent with the state average. All wages and salaries paid are divided by the number of jobs to determine the average paid per job. The dollar values have been adjusted for inflation and the values shown are in 2004 dollars.

Residential Real Estate:

The average price of all residential property sold during the past five years increased annually. The highest percentage increase over 2004 was experienced in property sold with less than 3 acres which rose by 15.6%. Waterfront property sold in 2005 had a 12.8% gain over 2004 and increased by more than $110,000 since 2001 representing a 70% increase in five years.

New Taxable Construction:

In 2005 the assessed value of new construction in Itasca County that was not tax exempt rose to $73.4 million. This amount represents a 38% increase over 2004. Major building projects new to the property tax system in 2005 include the Wendigo Lodge and Conference Center, White Oak Inn & Suites, Grand Square Associates, Glorvigen Theis Lind & Company and Oakwood Terrace. New construction that is tax exempt is not included in the figures.

Annual Growth of Property Market Value:

Annual growth reflects the increase in total estimated market value from year to year. The annual growth of Itasca County property market values includes new taxable construction and increases in the assessed market value of pre-existing properties. Itasca County’s 2005 market value increased 11.4% before
adding in new construction.

School Enrollment:

School enrollment in Itasca County public schools declined by 10% over the past five years. During the years between 2001 and 2005 home school and non-public school enrollments remained fairly consistent with an average of approximately 325 students enrolled in those environments during those years.