New Denver Report Shows an Increase in Tax Revenue and a Decline in Marijuana-Related Crime
August 9, 2018
Retail marijuana sales and projected marijuana tax revenue are up, and marijuana-related crime continues to drop. Those are a few of the key statistics released by Denver in the City’s 2018 Annual Marijuana Report.
Key stats from the report showing data from January 2017-January 2018 include:
- Retail marijuana sales jumped 29% in Denver from 2016 to 2017, while medical sales dropped 3%.
- There is a projected increase of 8% in marijuana tax and licensing revenue in 2018 compared to 2017. Revenue in 2017 jumped 20% compared to 2016 totals.
- Marijuana sales tax revenue in Denver constituted an estimated 3.4% of Denver’s general fund revenue in 2017 compared to 3.02% in 2016.
- From 2014-2017, Denver’s portion of Colorado marijuana sales declined nearly -10% from 48.3 percent in 2014 to 38.7 percent in 2017 as other Colorado cities expanded marijuana sales.
- From 2014-2018 more than $11 million of marijuana revenue will be granted for distribution to youth-serving organizations by Denver’s Offices of Children’s Affairs and Behavioral Health along with additional funds allocated for Denver’s “High Costs” youth prevention campaign.
- In 2018, $12.4 million from marijuana-related revenue was appropriated to add investments for deferred maintenance, affordable housing and opioid intervention in Denver. The City budgeted $8.8 million in expenditures across city departments and agencies for regulation, enforcement, and education.
- Marijuana related crime in 2017 accounted for less than 1 percent of overall crime in Denver at .30% compared to .42% in 2016.
- Marijuana industry-related crime in 2017 represented less than ½ of 1 percent of overall crime in Denver at .21% compared to .32% in 2016.