By Greg Reibman
A ballot referendum that would ban the sale of adult-use recreational marijuana in Newton would result in the loss of millions of dollars annually in local
tax revenue, according to city projections.
Given the nascent nature of the marijuana industry, it is difficult to pinpoint exactly how much revenue could be on the table.However, the revenue from
a three percent local recreational marijuana tax and up to three percent in local host agreements could yield over $2 million and perhaps more, said
Jonathan Yeo, chief operating officer for the City of Newton.
“These new dollars could potentially equal or