Economy

Replacing Property Taxes with a Commodity Tax on Cannabis & Hemp

Rationale:

Property taxes place significant pressure on homeowners, farmers, and small businesses. A modern commodity market provides an alternative revenue source that grows alongside new industries rather than burdening property owners.

Legislative Plan:

• Develop a commodity excise tax applied to cannabis and hemp products.

• Dedicate revenues to replacing or reducing traditional ad valorem property taxes.

• Establish revenue safeguards to ensure stability for counties and school districts.

Why It Matters:

This approach reduces the financial burden on property owners while supporting a rapidly expanding agricultural and industrial sector. Through cannabis and hemp legalization we can create jobs that can't be outsourced, provide a safe market for consumers, and take the tax burden off of retirees, homeowners and the working class.