Berkeley cuts taxes on pot to compete with black market

(KCBS) Cannabis buyers in Berkeley are getting a tax break as the city has dropped its taxes on marijuana from 10 percent to five percent. The main reason for the drop is to fight a booming black market. Berkeley is one of the only cities in the state to make the move.

The buzz surrounding January’s recreational cannabis sales seems to be fading; so too is consumer willingness to pay the higher taxes that came along with legalization.

“I think the sticker shock has been the issue for all of us really,” said Sabrina Fendrick of Berkeley Patients Group, a long-standing dispensary in the East Bay.

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