CO SB010

Broadens the definition of "farm" to include land that is predominantly used to produce agricultural products for monetary profit, rather than requiring exclusive agricultural use

Expands the definition of "ranch" to include land predominantly used for grazing livestock for profit through a pasture-based operation, where animals have regular access to open pasture and derive a majority of their diet from grazing

Creates a new statutory definition for "pasture-based operation" to cover smaller-scale livestock operations raising animals like chickens and pigs on pasture

Aims to extend agricultural property tax classifications to smaller operations that have become more common due to rising land prices making large-scale farming less accessible

Takes effect January 1, 2027, applying to property tax years commencing on or after that date