Post date: Feb 26, 2017 5:38:37 AM
From Councilor Wyse
Hi Stewart,
Here is what I heard back on from the city manager so far, regarding the ward meeting questions:
Where will marijuana tax money be going? General Fund? The marijuana tax that the City collects (we are restricted to a maximum 3% tax by State law) goes into the General Fund. I don't think we have received our first revenue payment yet. Our initial estimates are that we will collect $100,000 per year (this probably a bit conservative). The City also receives a small share of the State marijuana tax. These State funds can only be used for law enforcement.
Where does money in tax bill go? How much to city? County? Etc? The City receives approximately $0.35 of every property tax dollar collected. I will have to do some looking to know what the split is between the School Dist. And Benton County for the remaining $0.65. The City also receives additional funding from our Local Option Levy which expires in June 2019. A great place to send people is to our information on "Corvallis at A Crossroads" on the web page (http://www.corvallisoregon.gov/Modules/ShowDocument.aspx?documentid=10982). This is the information we mailed out to all Corvallis addresses last November.