Despite Ketchum businesses' making 1 percent more money than a year ago, not everyone came out ahead, according to the city's local-option tax collections.
Building-material sales in July were down 22 percent since the same month of a year ago, the most of any of the five LOT categories. That's a dramatic reversal from June when Ketchum's building industry saw its first growth over the previous year's corresponding month in nearly two years.
And June didn't experience a mere 1 percent or fraction-of-a-percent growth, but a 40 percent bound over June 2009.
The city's local-option-tax revenues broadly measure Ketchum business. LOT—commonly called the "tourist tax"—is a 2 percent sales tax on lodging and by-the-glass liquor sales, and a 1 percent tax on retail sales and building materials. Because LOT pertains to Ketchum's main industries, it's a simple gauge for reading the city's economy. The city uses LOT money—collected monthly—for city services and upkeep of infrastructure, such as streets, that see more use because of visitors.
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All in all, Ketchum proprietors made slightly more money in July compared to July 2009, with businesses seeing one cent more on each dollar. The city collected $181,700 in LOT for July, about $2,200, or 1 percent, more than last year.
LOT is divided into four other categories: retail sales, hotel room, short-term condo rentals and liquor sales.
Condos saw 40 percent more business over July 2009, but it's the smallest sector of LOT, dollar-wise, drawing in $6,700 in July. The largest sector is retail, which saw a 3.4 percent growth over July 2009, collecting $120,400 in LOT.
Besides building materials, hotels were the only other business sector to pull in less money, but the fall was a short 0.9 percent. Hotel LOT totaled $16,000, a mere $144 less than July 2009.
The last remaining LOT category, by-the-glass liquor sales, experienced a 7.5 percent improvement over July 2009, pulling in $21,000 of LOT compared to $19,600 a year ago.
Trevon Milliard: tmilliard@mtexpress.com
