Ketchum Businesses Sun Valley Road

Business closures brought on by COVID-19 in turn saw a major drop in receipts for Ketchum's local-option tax.

The city of Ketchum’s local-option tax, which collects taxes from building materials, liquor sales and condominium and room rentals along with other retail taxes, saw a drastic decline in tax receipts during the three-month isolation order, which began being lifted in May. Collections dropped 36 percent to $321,476, some $178,000 off the nearly half-million in receipts collected during the same time in 2019. On balance, though, the total isn’t so dire thanks to a strong start to the fiscal year. The city saw a $70,925 decline compared to last year’s receipts through May, a 3.9 percent drop.

By the numbers

March:

• Other retail receipts saw a 31 percent decline, with $100,584 collected.

• Room receipts saw a 37 percent decline, with $14,783 collected.

• Condominium receipts saw a 51 percent decline, with $8,937 collected.

• Liquor receipts saw a 46 percent decline, with $15,726 collected.

• Building material receipts saw an 8 percent increase, with $20,396 collected.

• Total receipts were 32 percent less than year, with $160,428 collected.

April:

• Other retail receipts saw a 48 percent decline, with $38,230 collected.

• Room receipts saw a 99 percent decline, with $0 collected.

• Condominium receipts saw a 79 percent decline, with $1,118 collected.

• Liquor receipts saw a 91 percent decline, with $1,205 collected.

• Building material receipts saw a 34 percent decline, with $15,125 collected.

• Total receipts were 55 percent less than last year, with $55,680 collected.

May:

• Other retail receipts saw a 14 percent decline, with $69,463 collected.

• Room receipts saw an 81 percent decline, with $1,409 collected.

• Condominium receipts saw a 91 percent decline, with $492 collected.

• Liquor receipts saw a 46 percent decline, with $8,334 collected.

• Building materials saw a 3 percent decline, with $25,667 collected.

• Total receipts were 22 percent less than last year, with $105,368 collected.

The city has budgeted $2.5 million in total revenue projected from LOT in the fiscal 2020 budget, which concludes in September.

Check the Wednesday edition of the Idaho Mountain Express for a full report on Ketchum's budget.

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