Colorado City Giving $1.5 Million of Cannabis Tax Money to the Homeless
In an example of how taxes on legal cannabis sales can be used to help society and those in it, the Colorado city of Aurora has announced that out of the $4.5 million in taxes they’ve garnered from legal cannabis sales, they plan to put $1.5 million of it into services, programs and organization that help the homeless.
The decision was made during a recent meeting by the Aurora City Council, where they decided where to allocate the tax funding from cannabis sales.
Of the $1.5 million planned for homeless services, $220,000 will go to Colfax Community Network, a nonprofit organization that provides homeless families with basic living supplies such as toiletries, clothing, food and baby supplies.
The council also agreed to give both Comitis Crisis Center and Aurora Mental Health vans, which will be used for homeless outreach ($92,000 was allocated for the two vans).
In Colorado, it’s legal for those 21 and older to possess up to an ounce of cannabis, and purchase it from a licensed retail outlet. The state has three types of taxes on recreational cannabis; a standard 2.9% sales tax, a 10% special cannabis sales tax, and a 15% excise tax on wholesale cannabis transfers. Cities also have the authority to add additional taxes.