SB 17-302

Senate Bill 17-302, which has been signed into law, changes how silvicultural equipment is treated for property tax purposes. Instead of exempting agricultural and livestock products from property taxes, the bill clarifies that equipment used in forestry activities, such as planting, growing, maintaining, or harvesting trees, is considered agricultural equipment and thus eligible for property tax exemption. This affects owners of forestry-related equipment who can now claim a property tax exemption on their silvicultural tools and machinery. Since the bill has been signed, it is now law and these changes are in effect.

Official Summary

Current law exempts 'agricultural and livestock products' from the levy and collection of property tax and defines 'agriculture', for purposes of applying the exemption, to include silviculture. Current law also exempts 'agricultural equipment which is used on the farm or ranch in the production of agricultural products' from the levy and collection of property tax. The bill repeals the current exemption and instead clarifies that agricultural equipment includes silviculture personal property that is designed, adapted, and used for the planting, growing, maintenance, or harvesting of trees in a raw or unprocessed state. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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