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Lowell officials: cannabis host-community payments and investment income will shrink next year; exemptions and abatements available for taxpayers
Summary
At a public session, staff said recent regulatory changes and drawn-down ARPA funds will reduce revenue (about $1M from cannabis host-community agreements and lower investment income), and they outlined tax-exemption and abatement options for residents on fixed incomes.
Councilor Belinda Duran and residents pressed staff on specific revenue sources and tax relief. Baldwin told the session the hit from changes to cannabis host-community agreements is about $1,000,000 and that the administration had already reduced revenue estimates accordingly.
"It's the hit to the budget's about 1,000,000 dollars, give or take," Baldwin said when explaining the legal and contractual history of…
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