Cannabis sales in colorado springs generate significant revenue for the city
“The city would not have been able to fund this year's fire academy without the tax revenue from cannabis sales, plain and simple. These funds covered the cost of training 36 new firefighters this year,” said Councilmember Nancy Henjum. "This is nearly 4 million dollars the city didn't have before and it makes a real difference in our ability to meet our community’s needs."
Revenue Generated
Revenue generated for the City of Colorado Springs comes from several sources.
1) A 5% sales tax on marijuana voters passed that must be spent on funding public safety programs, mental health services, and post-traumatic stress disorder (PTSD) treatment programs for veterans.
2) The City’s pre-existing 2% sales tax
3) The shareback to local cities from the state sales tax