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Finance Committee forwards 2-point cannabis tax increase to City Council, removes medicinal storefronts for further review
Summary
Staff recommended raising local cannabis taxes for storefront and delivery sales from 6% to 8% to generate an estimated $200K–$400K annually; after debate over potential customer migration and impacts on medicinal patients the committee voted 2–1 to send the proposal to council with medicinal storefronts excluded for refined analysis.
Assistant Finance Director Lindsay Moss told the Finance Committee that the city’s municipal cannabis tax—approved by voters in 2016 and capped at 20%—has been a declining revenue source since a FY2021 high near $2 million. Moss said current municipal rates for storefront and delivery sales are 6% and staff is proposing a two-percentage-point increase to 8% for those categories to help offset the city’s fiscal shortfall.
"Through this process ... we're expecting a range of somewhere between $200 to $400,000 a year in increased revenue," Moss said, noting the…
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