Holyoke officials report surge in cannabis tax revenues for fiscal year 2025

May 29, 2025 | Holyoke City, Hampden County, Massachusetts


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Holyoke officials report surge in cannabis tax revenues for fiscal year 2025
In the heart of Holyoke's city hall, council members gathered for a pivotal budget hearing, where discussions flowed around the city's financial future and the implications of recent revenue trends. The atmosphere was charged with anticipation as officials reviewed the budget proposals for the upcoming fiscal year.

A key highlight of the meeting was the report on the cannabis excise tax, which has shown a remarkable upward trajectory. The treasurer shared that in fiscal year 2023, the city collected approximately $640,895 from this tax, which increased to $702,295 in fiscal year 2024. As of now, Holyoke has already received $683,159 in fiscal year 2025, with one quarter still pending. This growth not only surpasses previous years but also indicates a robust trend that could significantly bolster the city’s finances. The treasurer noted that March has consistently been the strongest month for cannabis revenue, dubbing it the "green season," a term that resonated with the council members.

As the meeting progressed, the focus shifted to the tax collector's budget. The treasurer, stepping in for the recently welcomed new mother, Laura, presented a budget that remained flat compared to the previous year, with increases primarily attributed to contractual obligations and cost-of-living adjustments. However, a notable change was the shift in postage expenses, which will now need to be absorbed by the general fund due to a change in the agreement with the deputy collector, who previously covered these costs.

Council members engaged in discussions about the budget's specifics, including a query regarding the tax collector's advertising expenses. The treasurer clarified that the $8,000 allocated for advertising is primarily for legally mandated notices about tax liens, with past expenditures reaching as high as $16,000 in particularly active years.

As the meeting drew to a close, the council's deliberations underscored the importance of adapting to changing financial landscapes while ensuring that essential services remain funded. The discussions not only highlighted the city's current fiscal health but also set the stage for future planning, leaving council members and residents alike with a sense of cautious optimism about Holyoke's financial trajectory.

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    Scribe from Workplace AI
    Scribe from Workplace AI