Friday, January 14, 2005

Sun Valley LOT income starts strong

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By GREGORY FOLEY
Express Staff Writer

City of Sun Valley local option tax revenues flattened out in November 2004, after surging the month before.

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The city collected approximately $24,750 from LOTs during the month, a modest 3 percent increase over revenues in November 2003.

For the month, retail tax receipts were up 6 percent, liquor-sales receipts were up 2 percent and lodging-related receipts were down 5 percent.

The 3 percent bump in November came after a 19 percent increase in LOT receipts for October 2004—compared to October 2003.

Calculations for the first two months of the 2004-2005 fiscal year—which started last October—indicate that city LOT receipts are up 14 percent over the same period the previous fiscal year. The city collected approximately $91,000 from businesses in the two-month period.