The taxes would be created by more businesses opening up and employing more people to sell a very popular product. Legalizing and taxing beats the alternative in every way.
My town of about 200,000 in Republican Orange County CA, has recently become the site of a Marijuana dispensary, called "Surf City Collective."
It is located in the same mall as my AA meeting hall. They seem to run a very business like enterprise, with security in the parking lot to insure nobody smokes there, or that other activities are kept away (drug dealing, prostitution, vagrancy, etc.).
The city is not yet up to speed with an ordinance to keep them out, but say they are working on it. The business was offering to do a fundraiser for the police, but the police said don't bother.
I have been involved with the mall for over 20 years. Have seen many businesses come and go. This one is not contributing to any visible problems, that I can observe. I had one discussion with them, and it went fine.
There are numerous problem people that congregate around AA meeting places, if left to do so unimpeded. There do not appear to be any such people around the marijuana business.
Finally it looks like the owners are getting filthy rich, because they do a ton of business, measured by the auto traffic.