Woodbury collects more than $141,000 in cannabis tax revenue during first half of year

Woodbury Collects More Than $141,000 in Cannabis Tax Revenue During First Half of Year

by
July 8, 2026
···
Municipal records show three cannabis businesses generated more than $141,000 in local transfer taxes through the first six months of the year, with Nova Farms accounting for the largest share.

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 Woodbury.

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.

Phil Stilton

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital news organization covering New Jersey, national politics, public policy, public safety, and community affairs. With years of experience reporting on local government, elections, law enforcement, and issues impacting residents throughout New Jersey, Stilton has built a reputation for delivering timely news, in-depth reporting, and accountability journalism.

As the founder of Shore News Network, Stilton oversees editorial operations, investigative reporting, and breaking news coverage while working closely with journalists, public officials, and community leaders. His reporting has covered municipal government, state politics, federal policy, public records investigations, emergency management, and major news events affecting local communities.

Stilton is committed to factual reporting, source verification, transparency, and providing readers with accessible, accurate information that helps them better understand the issues shaping their communities. Through Shore News Network, he continues to focus on delivering trusted news coverage and original reporting to audiences across New Jersey and beyond.

For story tips, corrections, or media inquiries, readers can contact Shore News Network through its official website and social media channels.