Ketchum LOT not as low as thought
Sun Valley overpaid last year’s taxes
"I guess the bottom line is, it looks
to us that, instead of having an LOT that’s down in the order of 19 to 20
percent, it might be half of that."
— RON LeBLANC, Ketchum city
By GREG STAHL
Express Staff Writer
Ketchum’s financial gurus are working this
week to correct a city financial report that showed Sun Valley Co. had overpaid
its taxes during the winter of 2002.
"It looks to us like the Sun Valley
corporation overpaid their taxes in 2002 for about a four-month period," said
Ketchum City Administrator Ron LeBlanc. "It bloated the receipts that we
reported in January, February and March in 2002, so we have to adjust those."
For those keeping score, that means the
city’s current local option tax collections on general sales for the
aforementioned months are not as low as first anticipated, because the city had
been using the "bloated" 2002 receipts as a basis for comparison.
Last week, the city quickly retracted a
report that included February LOT receipts, but a prior report including January
showed the city’s retail receipts down 24.82 percent.
"I guess the bottom line is, it looks to
us that, instead of having an LOT that’s down in the order of 19 to 20 percent,
it might be half of that," LeBlanc said.
Interestingly, the override coincides with
a local option tax conundrum in the city of Sun Valley, where Sun Valley Co.
paid about $28,000 in back taxes last December. Because the back taxes were
added to the city of Sun Valley’s December spreadsheets, that month appeared to
show a 19 percent increase over the previous year.
Ketchum employees are working out the
details of the new LOT mystery this week.