Friday, July 15, 2005

Sun Valley LOT revenues advance

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By MEGAN THOMAS
Express Staff Writer

City of Sun Valley local option tax revenues nearly doubled in May 2005, compared to the same period last year.

The city collected approximately $55,300 from LOTs during May, a 46 percent increase compared to revenues in May 2004.

For the month, lodging-related receipts were up 36 percent, liquor-sales receipts were up 65 percent and retail tax receipts were up 49 percent.

The total 46 percent increase in May follows an 11 percent increase in LOT receipts for April 2005—compared to April 2004.

Calculations for the first six months of the 2004-2005 fiscal year—which started last October—indicate that city LOT receipts are up 9 percent compared to the same period the previous fiscal year. The city collected $619,154 from businesses in the eighth-month period.

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The total LOT revenue collected in May continues an upward trend in total LOT revenues recorded over the past three-months.