DENVER (KDVR) — New numbers for the month of August show marijuana sales continue to decline in Colorado. The numbers include both medical and recreational pot sales.
The steep decline means Colorado is on track to collect $100 million less in tax revenue from marijuana sales.
According to the Department of Revenue, total sales of marijuana in August of 2022 were down 22% from last year, which is a $334 million decrease in total sales for the year.
Medical sales were down 44% and recreational sales were down 17%.
The marijuana industry said if the decline continues, some communities will be forced to make deep cuts in programs that rely on tax dollars collected by pot sales.
Denver Mayor Michael Hancock recently released his budget proposal showing a 25% decrease in marijuana tax revenues.