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Denver marijuana tax refund: Plan for city ballot measure passes first step

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Submitted by Marijuana News on Thu, 05/14/2015 - 09:28

Denver voters in November may decide whether the city can keep its first-year haul from a 3.5 percent special recreational marijuana sales tax.

The city’s ballot question would join a likely statewide measure asking the same question about $58 million collected by the state last year from its separate marijuana tax. In Denver’s case, at stake is nearly $5.3 million.

A City Council committee approved the wording 5-0 Wednesday. The measure is expected to get the council’s final sign-off June 8.

Both the city and the state must ask voters to let them keep the entire amounts because of rules under the Taxpayer’s Bill of Rights. A booming economy resulted in higher revenue for both last year than had been projected when voters approved the state and local taxes on recreational marijuana.

TABOR requires that all of those new taxes be refunded, unless voters give the governments the green light...

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http://www.denverpost.com/marijuana/ci_28109341?source=rss

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