Woodbury, NJ – The City of Woodbury collected more than $141,000 in local cannabis transfer tax revenue during the first half of the year, according to municipal financial records, highlighting the growing contribution of the legal cannabis industry to the city’s budget.
A revenue transaction audit dated June 26 shows the city received $141,514.04 in cannabis tax payments between January and June from three licensed cannabis businesses operating in Mount Holly earlier this year. That site is reportedly being redeveloped.
Nova Farms generated the largest tax payments
The largest contributor was Nova Farms, which made two payments totaling $110,269.29.
According to the city’s records, the company submitted $59,346.14 in March for fourth-quarter 2025 cannabis transfer taxes and an additional $50,923.15 in June covering first-quarter 2026 activity.
The payments represented nearly 78% of all cannabis tax revenue received by the city during the reporting period.
Three businesses contributed to tax collections
Municipal records also show Woodbury Wellness paid a combined $18,278.80 through two installments. Those payments included $9,980.70 received in February covering sales from September through January and $8,298.10 received in June for activity between February and May.
Best Buds contributed $12,965.95 through two quarterly payments. The city received $6,465.40 in January for fourth-quarter 2025 tax obligations and $6,500.55 in April based on first-quarter 2026 revenues.
Collections trail budget projection
Although cannabis tax revenue continues to provide a growing source of municipal income, collections remain below the amount anticipated in Woodbury’s annual budget.
The audit report shows the city budgeted $290,000 in cannabis tax revenue for the year. As of June 26, officials had collected $141,514.04, leaving approximately $148,486 still needed to meet the annual projection.
New Jersey municipalities are authorized under state law to impose local transfer taxes on licensed cannabis businesses operating within their jurisdictions. The revenue may be used for general municipal purposes and has become an increasingly important funding source for communities that permit cannabis cultivation, manufacturing, wholesaling, distribution, or retail sales.
