Local Option Sales Tax (LOST) is a one percent sales and use tax enacted by a local referendum and imposed on the purchase, sale, rental, storage, use, or consumption of tangible personal property and related services. LOST is imposed on the sale of motor fuels, and in most counties, LOST also applies to the sale of food and alcoholic beverages. LOST revenues are shared by county governments and municipalities based on an agreed upon distribution. LOST revenues are used to reduce property taxes. This reduction is shown on property tax statements as a Sales Tax Credit.