HB 2264 Gives tax exemption for farming equipment

VOTE:YES – Died In Committee

Status (overview) of bill:https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/HB2264
Committee assigned to bill:https://olis.leg.state.or.us/liz/2019R1/Committees/HREV/Overview

This bill adds farming tools and implements to tax-exempt personal property and adds preparing farm crops for shipping as tax-exempt use of personal property.

Fiscal Responsibility

Exempts from property taxation property consisting of machinery, equipment, tools, implements or fixtures used primarily in agricultural or horticultural activities or animal husbandry, regardless of whether property is considered real property, and adds such property to definition of “tangible personal property.”

Free Markets
Farmers and ranchers sell their products into commodity markets where the market prices are not defined by the cost of production. Equipment is central to working more productively and it can be very expensive. This bill will help make decisions to purchase.

Comments

  1. David T Eckhardt says:

    Our family farms have been squeezed over and over by rising costs from equipment to fuel to seeds to fertilizer to you name it, all the while having to compete with factory farms and foreign markets. Any help we can give them is certainly deserved.

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