An Oregon family’s property can be specially assessed as farm use land because the family received income in exchange for boarding horses, the state tax court ruled Friday.
State law says property qualifies as farm use for tax assessments when the land is used for feeding or breeding livestock “for the primary purpose of obtaining a profit in money.” The Multnomah County assessor said the Holmes family’s arrangement with the horses’ owners wasn’t primarily for profit because it lacked formal lease or board agreements.
The Oregon Tax Court, Magistrate Division sided with the family trust, finding that they collected sufficient ...