Our analysis found that states that legalize recreational marijuana and encourage retail dispensaries see home values increase by thousands.
Between April 2017 and April 2021, property values rose $17,113 more in states where recreational marijuana is legal, compared to states where marijuana is illegal or limited to medicinal use.
Overall, we found marijuana legalization leads to higher property values and millions of dollars in new tax revenue.
In fact, states that legalize recreational marijuana and add new retail dispensaries see far greater property value and tax revenue gains than states that block dispensaries or limit marijuana to medicinal use.
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