Friday, June 10, 2005

Sun Valley's LOT revenues show growth

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By MEGAN THOMAS
Express Staff Writer

City of Sun Valley local option tax revenues continued to rise in April 2005. April revenues follow a dramatic increase recorded the month before.

The city collected approximately $44,700 from LOTs during April, an 11 percent increase compared to revenues in April 2004.

For the month, lodging-related receipts were up 42 percent, liquor-sales receipts were up 34 percent and retail tax receipts were down 5 percent.

The 11 percent increase in April follows a 20 percent increase in LOT receipts for March 2005—compared to March 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 6 percent compared to the same period the previous fiscal year. The city collected $563,821 from businesses in the seven-month period.