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3 Months After Legalizing Marijuana, Denver Boasts $6 Million in New Tax Revenue And Less Crime

According to new data, 3 months following Colorado’s decision to legalize the production, sale, possession and use of recreational marijuana. Property crime is down 14.6% compared to the same period in 2013. Violent crimes are down 2.4%. Arson is however up 109% from the same period, but represents just 23 of 3,757 crimes.

Also, Tax revenues generated from Colorado’s sales of medical and recreational marijuana in February increased from the previous month, according to figures released by the state.

Colorado collected $3.2 million in February, below the state’s projection of $3.7 million but slightly above above the $2.9 million it gathered in January.

In February, Colorado collected $1.43 million from a special 10 percent sales tax on recreational marijuana, plus another $438,253 from the state’s standard 2.9 percent sales tax.

The 2.9 percent sales tax on medical marijuana produced revenues of $1.02 million in February, an increase from the $913,519 collected in January and far above the $791,000 the state had projected in February.

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Conversely, the state projected that the 15 percent excise tax on the sale of recreational marijuana would bring in $739,330 — the actual total was $339,615, 54 percent below expectations. The 15 percent excise tax produced $195,318 in January.

As was the case in January, Denver County generated the largest amount of tax revenue, with the 2.9 percent sales tax on medical marijuana totaling $483,432.

The 2.9 percent tax on recreational pot brought in $245,709, with the 10 percent sales tax adding another $710,930.

The statistics shown is a far cry from claims of Amendment 64 opponents that legal weed was the devil’s work and Colorado would see a surge in crime and drug use.

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