(1) The following property is exempt from ad valorem property taxation: (a) Farm machinery and equipment used or held for use primarily in the preparation of land or the planting, raising, cultivating, irrigating, harvesting or placing in storage of farm crops; (b) Farm machinery and equipment used or held for use primarily for the purpose of: (A) Feeding or breeding livestock, poultry, fur-bearing animals or bees; (B) The management and sale of livestock, poultry, fur-bearing animals or bees or their produce; or (C) Dairying and the sale of dairy products; (c) Machinery and equipment used or held for use primarily to implement a remediation plan as defined in ORS 308A.053 for the period of time for which the remediation plan is certified; or (d) Farm machinery and equipment used or held for use primarily in any other agricultural or horticultural use or animal husbandry or any combination of these activities. (2)(a) Items of property, including tools and machinery and equipment that are used or held for use primarily in the construction, reconstruction, maintenance, repair, support or operation of farm machinery, and equipment and other real or personal farm improvements that are used or held for use primarily in animal husbandry, agricultural or horticultural activities, or any combination of these activities, are exempt from ad valorem property taxation. (b) An item of property described in paragraph (a) of this subsection is exempt from ad valorem property taxation only if the person that owns, possesses or controls the item also: (A) Owns, possesses or controls the farm machinery, equipment and other real and personal farm improvements for which the item is used or held for use; and (B) Carries on the animal husbandry, agricultural or horticultural activity, or combination of activities, in which the farm machinery, equipment or other real and personal farm improvements are used or held for use. (c) This subsection does not apply to land or buildings.
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