Wednesday, May 11, 2005

Sun Valley LOT sees big increase

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By MEGAN THOMAS
Express Staff Writer

City of Sun Valley local option tax revenues saw a dramatic increase in March, after a slight decrease the month before.

The city collected approximately $119,743 from the resort taxes during March, a 20 percent increase compared to revenues in March 2004.

For the month, retail tax receipts were up 20 percent, lodging-related receipts were up 22 percent and liquor-sales receipts were up 9 percent.

The 20 percent increase in March came after a 1 percent decrease in LOT receipts for February 2005—compared to February 2004.

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Calculations for the first six months of the 2004-2005 fiscal year—which started last October—indicate that city LOT receipts are up 5 percent compared to the same period the previous fiscal year. The city collected $519,134 from businesses in the six-month period.