down 2.7 percent
Express Staff Writer
Option Tax revenues for the city of Ketchum were down 1 to 2 percent
throughout the summer, compared to last year, and the city’s fiscal
year-end tally is down 2.79 percent.
as dismal as the collections by the neighboring city of Sun Valley,
where option tax collections are down 12 percent, Ketchum’s fiscal
year-end option tax receipts reflect a year in which only two months
garnered positive figures when compared with the previous year.
ended at $1.9 million, $55,000 less than the previous year.
however, was up 11 percent over last year, and February was up 1.71
percent. Those two months helped offset the damage done last September,
when the city was down 12 percent.
measures its local option tax on a fiscal year ending in August in order
to conform to the city’s October-to-September budget year.
current recession caps a decade of local option tax growth, and because
cities draft budgets based on what they project they will collect,
overspending is conceivable.
means we have less money than we thought we’d have to begin the new
year," Ketchum City Administrator Ron LeBlanc said. "In last
year’s budget, we had anticipated a weak economy, and we didn’t use
a land development fund."
said the 2.7 percent overall decline from last year does not constitute
an immediate crisis, and, because the land development fund was not
used, the city did not fall into the red.
just have to tighten our belts and count every penny from now on,"
he said. "If this trend continues, I may need to speak to the
council about implementing some stop-gap measures in the middle of the