Receipts from local-option taxes in Ketchum were down for the first time this fiscal year in May, after setting a record pace over the previous eight months.
The city collected just under $198,000 from businesses last month for LOT receipts in May, down 3.3% from the approximately $204,500 collected from sales in May 2021. Through the first nine months of the fiscal year, the city has collected approximately $2.6 million.
For the first eight months of the 2021-22 fiscal year, Ketchum’s LOT receipts were running significantly higher than the record-high 2020-21 fiscal year, with higher amounts collected every month. In September 2021 through April 2022, Ketchum businesses collected approximately $2.4 million in local-option taxes, up from about $2 million collected during the same months in the prior fiscal year.