Committee hears that expanding current-use to include equine farming could cost state millions

The Joint Fiscal Office told the Senate Finance Committee that a bill to expand "current use" tax treatment to include equine farming could increase state costs and shift tax burdens, potentially reducing education property tax revenue while increasing general-fund hold-harmless payments to municipalities. Ezra Holden of the Joint Fiscal Office said the office focused on two sections it considers fiscally significant and opted for a conservative (higher) range to avoid underestimating the potential impact.