Wednesday, November 2, 2011

Ketchum’s LOT up in 2011

Express Staff Writer

Fiscal year-end totals for Ketchum's local-option tax revenues have come in over what the city anticipated.

The city finished fiscal 2011 with $1,638,904, or $15,881 more than what City Administrator Gary Marks estimated.

It's also a 12.9 percent increase over the prior year.

Marks said much of that can be attributed to the city's annexation of 138 acres of Sun Valley Resort property at the base of Bald Mountain's River Run last year. But, he added, "there was some improvement shown in the overall economy."

The city can't legally provide LOT numbers for a specific business, such as Sun Valley Resort, so it's impossible to know exactly how much of that increase is due to River Run. LOT is collected at River Run on transactions such as lift tickets, liquor sales and merchandise.

Now that River Run has been part of Ketchum for a full fiscal year, and therefore its sales subject to the LOT, next year's LOT figures will provide a better year-to-year comparison and indication of the city's economic health.

"From here on, it'll be much clearer what's going on," Marks said.

Details on the LOT will be made available in the coming weeks.

Rebecca Meany:

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