Ketchum received about $53,000 less in local option tax revenue in September compared to the same month last year.
The 23 percent decrease left the fiscal-year receipt total at $1.56 million, some $482,400 less than that of fiscal 2007-08, also a 23 percent decline.
LOT revenue is collected from 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.
The city categorizes LOT receipts into those collected from building materials, liquor, condominiums, hotel rooms and other retail. All categories saw a drop in LOT collected for the month compared to September 2008, but building materials were the biggest loser at a 53 percent decrease, falling from about $35,200 to about $16,500.
On the other hand, September taxes taken in on condominiums were down only 3 percent compared to the same month last year. But the fiscal year's total was still down about 36 percent for condominiums.
The year's totals were down for all other receipt categories as well.
The decrease in LOT revenue was more than the city anticipated at the beginning of the fiscal year when it budgeted $2.2 million. Receipts came in $655,526 short, about 30 percent less than planned.
The city predicts the decrease to continue.
The city budgeted $778,735 for LOT revenue for fiscal 2009-10, which started at the beginning of October.
Trevon Milliard: tmilliard@mtexpress.com
