Friday, December 8, 2006

Sun Valley LOT climbs in October

Express Staff Writer

The city of Sun Valley is off to a strong start for fiscal year 2006-2007, with local option tax revenue in October increasing 37 percent compared to the same period last year.

Calculations for the first month of the fiscal year show LOT receipts totaling $97,457. Last year the city reported bringing in $71,261 in October and $66,271 in 2004.

This year's totals represent a 47 percent increase over October 2004 and a 75 percent increase over October 2003.

Liquor, lodging and retail sales show growth across the board, with the largest revenue spike showing in retail sales. For the month, retail sales were up 53 percent over the same period last year. Liquor-sales receipts were up 26 percent, and lodging receipts were up 16 percent.

The city collected $101,702 in September 2006, a figure slightly higher than September figures from 2004. The city received a large, one-time payment in September 2005, making comparisons difficult to gauge.

Sun Valley collects a 3 percent LOT on lodging, liquor by the drink and retail sales. Construction materials and ski lift tickets are exempt. The voter-approved tax is scheduled to expire Dec 31, 2011.

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