Cannabis Revenue to Top Sales Tax Revenue in Santa Barbara
Santa Barbara County says it is expecting $10.6 million in cannabis tax revenue for the fiscal year 2020-21, exceeding revenue from sales taxes for the first time.
Santa Barbara’s permissive cannabis policies have caused some headaches, but they’re doing the county big favors right now. Santa Barbara officials say 1/3 of the revenue will fund cannabis enforcement. The rest will help the county avoid layoffs and service cuts that would have been required because of the pandemic-induced recession.
As the nation’s attention remains focused on matters of social and racial justice, county officials will use cannabis revenue to address that too. The county is setting up a $500,000 “equity fund” to help address racial inequality.
Read more at the Santa Barbara Independent.