Florence is a Great Little Town
And We Can Remain
A Great Little Town
If We Fix
In November 2012 Colorado voters approved Prop 64 legalizing the sale of recreational Marijuana, with all three Florence Wards voting in favor. Despite being given the go ahead by the voters, council decided to let the next council decide the issue. The new council struggled with the issue until an apparent consensus was reached and a vote called for. The deciding vote flopped to negative and Council voted 4 to 3 not to allow recreational marijuana stores in Florence. With all due respect, based upon the experience in other towns that has proven to be a very expensive mistake. Manitou Springs averages $100,000.00 per month in sales tax revenue from rec sales, Pueblo County $50,000.00 in May 2015.
Our sales tax revenue from recreational marijuana sales would be near those in Pueblo West or Manitou Springs because the store would draw buyers from Canon City, the surrounding area and tourists visiting the Royal Gorge attractions.
The sales tax revenue generated by recreational marijuana is three times that generated by the sales tax on a normal item because the state returns half of the 10% sales tax it collects to the city resulting in an additional 5% sales tax on recreatuonal marijuana.
In 2014 the city budgeted $549,000.00 to come in from sales taxes for the entire city. If council would have approved a rec store in Florence, it would be generating sales tax revenue now, and at the rate the stores in Pueblo West and Manitou Springs sell recreational marijuana, within one year the sales taxes from one recreational marijuana store would equal or exceed the entire amount budgeted from the rest if the businesses in the town. In round numbers going from half a million to over $1,000,000.00 per year. Doubling the sales tax we as a city collect.
Who pays the rec marijuana sales tax? Not 85% of the residents of Florence because they wont’t use it. The tax will be paid by some of our residents and those who come from Canon City, Penrose, Custer County, plus a number of tourists who visit the Royal Gorge and it’s attractions. Expect them to shop, eat, and enrich our economy.