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Mayor John Tory says that the City of Toronto “deserves full cost recovery” when it comes to the added expenses that it expects to incur as a result of the legalization of marijuana.

Tory made the comment to reporters on Tuesday, one day after finance Minister Bill Morneau announced that 75 per cent of all revenue from the legalized sale of marijuana will go to provinces and territories with the remaining 25 per cent going to Ottawa.

It remains unclear whether municipalities will receive a chunk of the revenue given to provinces and territories, though Premier Kathleen Wynne did tell reporters on Tuesday that her government will work to pass some of the money off to cities.

"We need to work with municipalities to understand what their costs are going to be, what our costs are going to be, and now we will do that work within this context of this sharing framework," Wynne said.

Ottawa has previously said that tax revenue from the sale of marijuana will likely be $400 million in the first year of legalization and eventually grow to $1 billion.

Under the funding formula announced Monday, the federal government will receive up to $100 million in tax revenue with all excess revenue over and above that amount also going to the provinces and territories.

Tory said that while he is “gratified” that there is “at least some recognition of the needs of municipalities,” the city must recover all costs from the legalization of the drug.

“I have never said that I want a specific percentage. What the people of Toronto deserve and the government of Toronto deserves is full cost recovery of all the costs that will be put to policing this, to dealing with public health aspects and to dealing with zoning and other requirements,” Tory said. “I don’t think property taxpayers should be bearing those costs alone. I don’t think they should be bearing it at all actually.”

The federal government initially indicated that it would split the revenue from the legalized sale of marijuana with the provinces 50-50 but it agreed to amend that formula following criticism from some provincial leaders, who argued that they would be the ones facing added costs as a result.

Speaking with reporters on Tuesday, Tory said that he doubts that there will be a “bonanza” of money coming into government coffers as a result of the legalization of marijuana but he said that cities should nonetheless get their fair share.

Ottawa has previously said that tax revenue from the sale of marijuana will likely be $400 million in the first year of legalization and eventually grow to $1 billion.

“I will be looking to recover all of our costs once we calculate them so this law, which I support, won’t be added to the series of laws passed by other governments where the costs were passed down to other cities to bear,” Tory said.

The federal government has said that it intends to legalize marijuana by July 1.

With files from The Canadian Press.