Wednesday, May 16, 2007

Hailey LOT on track to reach target


By JON DUVAL
Express Staff Writer

Although the month-long closure of Friedman Memorial Airport is anticipated to cause a dip in Hailey's local option tax receipts, the city is still on track to collect enough revenue to cover its allocated expenses.

Having started LOT collections in July 2006, the city has brought in just under $300,000 in nine months.

Under the LOT system, consumers pay a 3 percent tax on lodging and rental cars, a 2 percent tax on alcohol, and a 1 percent tax on food purchased at a restaurant.

At its meeting on Monday, May 14, Hailey's City Council decided to suspend giving the Chamber of Commerce any funds in addition to the $10,000 already allocated until they can determine if they will indeed meet their LOT budget.

The city has authorized expenditures of approximately $312,000 to date, but has budgeted for a total of $425,000 for the year.

If this latter total is achieved, Hailey will have $22,500 of unallocated funds that could possibly be used for the Chamber of Commerce.




 Local Weather 
Search archives:


Copyright © 2024 Express Publishing Inc.   Terms of Use   Privacy Policy
All Rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Express Publishing Inc. is prohibited. 

The Idaho Mountain Express is distributed free to residents and guests throughout the Sun Valley, Idaho resort area community. Subscribers to the Idaho Mountain Express will read these stories and others in this week's issue.