TX HB255

Expands the definition of "farm products" for property tax exemption purposes by adopting the Business & Commerce Code definition and explicitly including poultry, eggs, and timber (including standing timber)

Modifies "in the hands of the producer" to mean farm products under ownership of a person who is "using or" financially providing for their physical requirements as of January 1 of the tax year

Establishes separate criteria for timber exemption: standing timber or harvested timber that remains on the property where it was produced and is still owned by the person who owned it when standing

Takes effect January 1, 2026, and applies only to tax years beginning on or after that date

Contingent on voter approval of a related constitutional amendment proposed by the 89th Legislature authorizing the legislature to define these terms for the farm products tax exemption