Friday, August 11, 2006

Ketchum LOT receipts decline

All categories still on plus side year-to-date

Express Staff Writer

Three out of five categories for which local option taxes are collected in Ketchum showed a drop last month.

LOT receipts gathered in June, as reported to the city in July, totaled $172,359. That's approximately 3 percent less than last July's figure.

Condominium receipts took the biggest dip, sliding 17 percent, from $3,078 last year to $2,548 this year.

Building materials receipts declined 15 percent, or $8,205 from the previous July's number. That category has see-sawed over the summer. June's number was up 19 percent from June 2005, while May declined 12 percent and April jumped 12 percent.

"If you average out those four months, I think it's right on the money," said City Administrator Ron LeBlanc. "There are normal building cycles."

Year-to-date figures for building materials are 1.2 percent over last year at this time.

Liquor receipts fell by nearly 10 percent from last spring's shoulder season, coming in at $12,081. The reason for the slide is unknown.

"The locals usually pick up the slack," LeBlanc said.

The "other retail" category showed a gain of 4.5 percent, ringing up $100,402 in receipts.

Room receipts posted a 3 percent gain, bringing in $10,786.

Year to date, each category is on the plus side, with a total figure 5 percent more than last year at this time.

The city of Ketchum collects a 2 percent sales tax on condos, hotels and liquor by the glass, and a 1 percent tax on items in the other categories.

The money goes into the city's sales tax fund, where it is divided into the general fund and capital improvements fund. The majority that goes to the general fund supports KART bus service, the chamber fo commerce and other operations, such as snow removal.

The capital improvement fund so far has $116,112. Last year's total was $141,000.

"We're right on track to hit that number again this year," LeBlanc said.

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