City Council
MEETING DATE: 8/12/2015
TITLE:
Title
Discussion on Tax Rate for Medical Marijuana Dispensaries
End
FROM:
Tami Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Receive Report and Provide Direction to Staff
Body
BACKGROUND:
At the November 2014 Election residents approved an Ordinance implementing a Cannabis and Marijuana tax of 15 cents per $1.00 on proceeds from collectives operating in the City.
DISCUSSION:
According to the Ordinance, the City Council may impose the tax authorized by this Chapter at a lower rate and may establish exemptions, incentives, or other reductions, and penalties and interest charges or assessments for failure to pay the tax in a timely manner. At the City Council Meeting of July 22, 2015, Council requested that an item be placed on the Study Session Agenda to discuss the tax rate and whether or not to adjust the rate.
FISCAL IMPACT:
None
ATTACHMENTS:
None