Marijuana tax revenues surpass city projections
November 13, 2019
Marijuana tax receipts for the first quarter of the 2019-20 fiscal year have already exceeded the city’s budgeted amounts.
The city budgeted about what it received in the prior year, about $27,400, said city Finance Director Brandon Neish. Marijuana tax revenue was $32,468.12 for July through September.
Of that amount, about $7,000 was from state revenue sharing, which is a tax collected and distributed to local governments by the state. Neish said that matches what the city budgeted for 2019-20.
Of first quarter revenue, about $25,000 was from the local 3-percent marijuana tax. That rep...