Personal property tax; farm machinery, classification of forest harvesting.

Personal property tax; farm machinery; classificationof forest harvesting and silvicultural activity equipment. Providesthat for the purposes of local personal property tax exemptions,"farm machinery" includes any machinery designed solely for theplanting, production, or harvesting of any agricultural product, asdefined in § 3.2-6400. The bill removes forest harvesting and silviculturalactivity equipment from the list of property that may be classifiedseparately and taxed at a lower rate than general personal property.Forest harvesting and silvicultural activity equipment that is notexempted from property taxes is also added to the list of propertyseparately classified for valuation purposes, but not for rate purposes.The bill contains a nonseverability clause.