Wednesday, July 15, 2009

Ketchum LOT decline slows

City sees reduced receipts from all categories except condos

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By JON DUVAL
Express Staff Writer

Jesse Tackett helps Kerry Smith at Wiseguy Pizzeria in Ketchum. The city’s receipts from local-option taxes were down last month compared to last year, but the decline has begun to ease. Photo by David N. Seelig

May revenues from Ketchum's local-option tax receipts were still down from the same month last year, but the declines in all categories were smaller than those in April.

The city brought in $83,350 in May, about $21,000 less than May 2008. That brings the total for the first three quarters of the fiscal year, September through May, to $1.097 million. Over the same period last year, the city garnered $1.436 million.

Ketchum imposes a 2 percent sales tax on lodging and by-the-glass liquor sales, and a 1 percent tax on retail sales and building materials, to offset the impact of tourism on city services and infrastructure.

All categories were down from last May except for condo receipts, which were up 26 percent. Building material receipts saw the greatest drop, falling 36 percent compared to the same month last year.

Retail, lodging and liquor receipts were down 17.2, 6.7 and 7.9 percent, respectively.

The month's approximately 20 percent decline, however, was much smaller than that experienced between April 2008 and April 2009, when LOT receipts dropped 32 percent.

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To date, Ketchum's LOT revenue is $401,804 less than what was budgeted by the city at the beginning of the fiscal year.

Jon Duval: jduval@mtexpress.com