Expenditures would drop 0.8% in 2014
Reduced valuations will mean nearly $18,000 less in property tax revenue for the Town of Silverton in 2014, but if voters approve a 3 percent excise tax on marijuana production in the April 1 election, that difference may very well be bridged.
That’s according to the town’s draft 2014 budget, which sets general fund spending at $1,740,439, nearly $14,000 (0.8 percent) less than the anticipated 2013 spending.
The Town Council plans to adopt its 2014 budget at its Dec. 9 meeting.
The budget, as always, includes some assumptions — in this case a modest 1 percent increase in sales tax revenue (which would amount to $17,000), and voter approval of the marijuana excise tax, which Town Administrator Brian Carlson estimates could bring in $22,500 a year. That’s based on the capacity of a 10,000-square-foot growing facility.
Such a facility is already in operation in town, producing marijuana for medicinal purposes.
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