Growing crops

From the 2024 DOR Tax Exemption Study

84.40.030(3) - Growing crops Description The value of agricultural land on January 1 does not include growing crops for property tax purposes. This exemption does not apply to cannabis. Purpose The harvesting of most crops prior to January 1 prevents them from being subject to property tax. This exemption provides equal treatment for the few crops that may still be growing in the ground, principally winter wheat and fall barley. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.247 $0.247 $0.238 $0.233 Local Taxes $0.732 $0.752 $0.748 $0.756 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.021 $0.041 $0.041 Assumptions - The total estimated exempt value is $113 million. - This repeal takes effect beginnin