Is zakat obligatory on horses?

The imams have unanimously agreed on the obligation of zakat on camels, cattle, and sheep, provided certain conditions are met: the completion of the nisab, the stability of ownership, the completion of the hawl (one lunar year), and the owner being a free Muslim. They also agreed on the condition that they must be pasturing animals (sa’imah), except for Malik, who obligated it on working animals and those fed fodder. As for horses, they agreed on the obligation of zakat on their value if they are for trade and reach the nisab. Otherwise, there is no zakat on them according to Malik, Shafi’i, and Ahmad. If horses are prepared for trade, they are to be valued, and a quarter of a tenth (2.5%) is to be paid on them.