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Committee approves reclassification of forestry equipment for tax assessment
Summary
A committee substitute for Senate Bill 701, which designates forestry equipment as Class 1 property for tax assessment and sets an effective date of July 1, 2025, was agreed to and reported to the full Senate; the fiscal note estimates state impact of about $1.1 million with $330,000 from general revenue.
The Senate Finance Committee voted March 27 to report committee substitute for Senate Bill 701 to the full Senate with a recommendation that it pass.
The bill reclassifies forestry equipment—defined in the committee substitute to include skidders, feller bunchers, forwarders, cable…
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