Colorado marijuana: Silverthorne Town Council approves tax ballot question on recreational pot
Silverthorne Town Council voted unanimously Wednesday to propose a 5 percent excise tax on retail marijuana sales to the voters as a special election ballot question in November.
The excise tax, if approved, would take effect Jan. 1, 2014.
A special November election is necessary to meet the initiative’s Jan. 1 implementation date because town elections are typically held in April. The excise tax must also be presented in the form of a ballot question in accordance with the Taxpayer Bill of Rights.
Funds generated by the excise tax would be used to offset the anticipated increase in workload for the licensing of new retail marijuana stores, DUI enforcement and mental health support services within the town.
Medicinal marijuana sales, which are subject to Silverthorne’s 7.775 retail sales tax, would be exempt from the proposed 5 percent excise tax
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