Marijuana tax could bring in millions
Projected city revenue from recreational marijuana could bring in more than $1.5 million over the next 10 years, if Cameron voters approve 3 percent sales tax the Cameron City Council seems primed to put on the April ballot.
According to a study by the Missouri Municipal League, Cameron could annually receive as much as $150,000 in marijuana sales tax revenue.
"Council has asked me a number of times, if the public votes on the tax on recreational marijuana, what we might expect from that ... Is it $10,000 or $100.000? That question has been asked around the state," Cameron City Manager Steve Rasmussen said. "[Missouri Municipal League] did a study on that with other states and what they have. Their estimate for our city, which for example could be a comprehensive license group that sells both recreational and medical marijuana, would generate about $150,000 a year with a 3-cent sales tax. We will bring that proposed ordinance to you during the next city council meeting."
Correction: A story printed in the December 1 edition of the Cameron Citizen-Observer inaccurately compared the recreational sales tax to the 2020 1/2-cent parks sales tax. Although the recreational marijuana sales tax will generate $1.5 million in the next 10 years, according to Missouri Municipal League estimates. The park tax will generate $6.7 million in the next 10 years.