Medical marijuana businesses fail to report values in Maricopa County
Aug 28, 2017, 1:13 PM
(AP Photo/Ricardo Arduengo)
(AP Photo/Ricardo Arduengo)
PHOENIX — A vast majority of medical marijuana businesses failed to meet requirements and report their value to Maricopa County this year, an official said.
“We sent out 109 forms and we got 11 back, so about 90 percent did not report as they are required to,” Maricopa County Assessor spokesman Ryan Boyd said.
Each year, businesses are required to file their estimated value with the assessor’s office. The value primarily measures equipment owned by the business.
Though the exact value of the medical marijuana equipment was unknown, Boyd said the failures to report mean the county is missing out on a lot of money.
“We’re looking at revenue of about $1.5 million to the county, city (and) schools, so not chump change,” Boyd said. “It’s significant resources.”
Because the businesses failed to pay, the assessor’s office has sent out property tax statement to them with a 10 percent penalty attached.
The businesses can either pay the taxes or contact the assessor’s office to work out a payment plan. The deadline is Sept. 25.
KTAR News’ Tom Perumean contributed to this report.
