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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.
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.”
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.