PUEBLO, Colo. - More people than ever are looking to buy retail marijuana.
It's evident in the business Mike Stetler, owner of Marisol Gardens in Pueblo County is seeing.
He says, "It's more open doors and it's more, it's been explained to people and everything. It's on it's way to becoming like liquor."
Come 2019, some prices may be changing, but customers won't see it immediately.
The Colorado Department of Revenue released it's quarterly average market rates (AMR) for marijuana. In a statement the department said in 2019, the "average price per pound of bud and trim rose moderately from the previous quarterly update, specifically to $781 per pound for the bud rate (from $759) and $396 per pound for the trim rate (from $325). The wet whole plant rate and the seed rate also increased, to $151 for wet whole plant (from $100) and $5 for seed (from $4)."
The average market rate is meant to give retail cultivations a point at which they determine how much taxes they'll need to pay. The excise tax rate in Colorado is 15%. That means when the market rate goes up, so does the taxes on growers. In turn, that could eventually mean higher prices for the customer.
Stetler who owns his own growing operation and the retail store says it adds to the taxes he already pays like state and sales tax.
"We get regular taxes, you know 6 percent, 15 percent, and you know stuff like this. It adds up quite a bit," he says.
Historically, the AMR in Colorado has been steadily decreasing. In 2015, the AMR for the price of bud was $2,007 per pound. The last quarter of October 1st was it's lowest at $751.