Last year, many towns in New Jersey agreed to allow the development of recreational cannabis dispensaries with a promise of a windfall of cash. Revenue would be generated through a 2% transfer tax placed on every sale. A year later, the towns that were first in line to facilitate the cannabis industry are beginning to reap the benefits of cannabis sales.
Mike Davis, a reporter with the Asbury Park Press, explains how municipalities are benefiting and what the money is being spent on. “In Lawrence Township and Mercer County, their business administrator told me they’re basically able to pay for their trash collection next year just off of cannabis alone,” Davis said.
