Committee hears equine current-use proposal; survey suggests limited fiscal impact

The committee discussed draft language to allow some equine-related businesses into current-use tax treatment. Agency staff said they supported the policy goals but were still checking administratively with the administration before taking a formal position.

Maggie, representing the Vermont Equine Industry Association, said her organization had surveyed roughly 190 operations and received about 63 responses; approximately 29 respondents met a 50% income threshold the committee had discussed. Maggie said many of those operations already have some land in current use and that the number of taxpayers affected appears small, but she and committee members asked for an estimate of potential lost revenue so the finance committee could assess fiscal impact.

Members asked the agency and association to provide additional detail to aid other committees and to confirm any tax estimates before the bill proceeds.