Wednesday, October 9, 2013

Sun Valley LOT receipts down

Year-to-date figure off by 15 percent

Express Staff Writer

    The city of Sun Valley has seen a drop in revenue of 15 percent in local-option-tax receipts this year, raising $957,475 compared to $1,127,350 at this time last year.
    The Sun Valley City Council received a summary report on LOT receipts during a meeting Thursday, Oct. 3.
    LOT receipts for the month of July 2013 brought in $228,946, which marked a 6 percent increase in revenue over last year’s earnings for the same month.
    The retail portion of the tax increased by 5 percent, and the amount collected from the lodging sector went up 9 percent. The council made no comment regarding the figures.
    The LOT is drawn from sales in Sun Valley on retail items, lodging and by-the-glass liquor sales. The tax has brought in more than $5.5 million in revenue to the city since 2008.
    The LOT is authorized by the state in order for small resort communities to offset the costs of accommodating high numbers of visitors.

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