Worcester lowers estimate of marijuana revenue – News – telegram.com – Worcester, MA

WORCESTER — The slower-than-anticipated rollout of the adult-use marijuana industry in the state has forced Worcester to revise downward its marijuana-related revenue estimates for this fiscal year.But city officials said the midyear adjustment will not hurt the city budget because they expect to offset lower marijuana revenue with increases in other local receipt line items that had been conservatively estimated.Thomas F. Zidelis, the city’s chief financial officer, said the state Department of Revenue asked the city, before this fiscal year’s tax rates were set in December, to reduce the amount of anticipated marijuana revenues for the year by $460,000.As part of this fiscal year’s municipal budget, which took effect July 1, City Manager Edward M. Augustus Jr. anticipated roughly $1 million in revenues from medical marijuana and adult-use marijuana host agreements.

Source: Worcester lowers estimate of marijuana revenue – News – telegram.com – Worcester, MA

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