Friday, August 14, 2009

Sun Valley LOT down 32 percent

Express Staff Writer

Sun Valley's local option tax receipts in June took the biggest year-over-year dip of any month so far this fiscal year, falling 32 percent compared to June 2008.

With the fiscal year running from Oct. 1 through Sept. 30, June represents the end of the third quarter for annual LOT collection.

The tally of just under $88,000 brought in to the city in June was about $42,000 less than in the same month last year.

Sun Valley imposes a 3 percent sales tax on lodging, by-the-glass liquor sales and tickets to events in the city. A 2 percent tax is imposed on most retail sales and a 1 percent tax on ski lift tickets and season passes.

The goal of the tax is to offset the impacts of tourism on city services and infrastructure. LOT figures are one of the primary gauges of the success of the local economy.

Lodging receipts saw the greatest proportional decrease, falling 36 percent from about $46,400 to $29,700. Retail receipts suffered a greater nominal fall, however, dropping from about $76,500 to $51,400.

For the first nine months of the fiscal year, Sun Valley has brought in just over $636,600 in LOT receipts, compared to approximately $805,300 during the same period of the prior fiscal year.

Jon Duval:

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