Kersey’s Marijuana Tax Could Net San Diego $22M in First Year, City Says
San Diego voters will be told this fall that passage of a ballot measure to tax businesses selling recreational marijuana could generate an estimated $22 million for city coffers in the first year, according to documents made available Tuesday.
The estimate is part of a fiscal analysis of Measure N, which will go before voters in November. The City Clerk’s Office released fiscal and legal analyses on the dozen city of San Diego propositions that will be decided in the general election.
Measure N would only take effect if voters statewide approve Proposition 64, which would decriminalize recreational marijuana use. The drug is currently allowed under state law only for medical purposes.
The tax, proposed by Councilman Mark Kersey, is designed to cover city regulatory costs of marijuana legalization, which is projected to be around $650,000 annually.
The levy would be 5 percent of gross receipts in the first year,...
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