Phoenix-area medical cannabis firms owe $1.5M in property taxes

420Patients.com is accepting qualified medical marijuana patients and caregivers to join our network. We value every registered member and we hope to serve you in Arizona. This article brought to you by 420 community friends mmjbusinessdaily.com

The vast majority of Phoenix-area medical marijuana businesses are delinquent in their property taxes – to the collective tune of $1.5 million, the county assessor claims.

Only 11 of the 109 MMJ companies in Maricopa County have paid their personal property tax bills, Assessor Paul Petersen told The Arizona Republic.

If the businesses wind up paying what Petersen estimates is due to the county, the total could be north of $1.5 million because the tax tab will include a 10% penalty.

The taxes owed, Petersen said, are based on the value of equipment used by cannabis companies,

Phoenix-area medical cannabis firms owe $1.5M in property taxes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Leave a Reply

Skip to toolbar