Eagle County poll indicates support for marijuana tax that could generate $2M a year – Colorado News

Eagle County poll indicates support for marijuana tax that could generate $2M a year – Colorado News

EAGLE COUNTY — Eagle County does not have its own marijuana tax, but the estimated $2 million it could generate locally has the county commissioners eager for one.

A poll by Boulder-based Magellan Strategies told the commissioners that up to three-quarters of likely voters would support a marijuana tax, depending on how the money was spent.

The commissioners have until Sept. 8 to put a tax question on the November ballot. The county staff is hammering out a possible ballot question, said Bryan Treu, county attorney and interim county manager.

About those Benjamins

Because Eagle County does not have its own pot tax, the county’s marijuana money comes from the state’s 10 percent sales tax and 15 percent excise tax.

Right now, the state shares $250,000 annually in sales taxes with Eagle County, Treu said.

A county marijuana sales tax would likely be phased in, Treu said, and might start at around 2.5 percent. The early numbers break out like this:


Recommended Stories For You


• 2.5 percent could generate $350,000 annually.

• 5 percent could generate $750,000 annually.

Eagle County’s proposed pot tax would be layered on top of the county’s existing 4 percent sales tax, and the state’s 10 percent retail marijuana sales tax, said Scot Hunn, owner of the local consulting firm Hunn Planning and Policy.

Sales taxes are straight arithmetic. Excise taxes are more like first-year algebra, but still not too complicated.

Colorado’s excise tax is the 15 percent tax on a value of a pound of marijuana.

Colorado’s Department of Revenue says a pound of marijuana is worth up to $1,500.

That means the state collects 15 percent of that $1,500, or $225 per pound…

click here to read more.

Share this post

Post Comment