land prices, crop lands, pasture lands, land value
Agricultural land prices rise amidst increased demand from agricultural producers and individuals seeking land for recreational, speculative, or residential uses. Interest in changing South Dakota's method of valuing agricultural land from a market-based to an income-based approach surfaced and resurfaced in the late 1970s and 1990s, respectively. Using results from two studies, we describe differences in land market conditions between these time periods and summarize the state and county valuation shifts resulting from adopting an income valuation approach. Specifically, we report internal valuation shifts between crop and pasture landowners and external valuation shifts between agricultural landowners and nonagricultural property owners.
Department of Economics, South Dakota State University
Number of Pages
Hansen, Tonya; Shane, Richard; and Janssen, Larry, "Shifts in Agricultural Land Valuation in South Dakota: From Market-Based to Income Based Criteria" (2006). Economics Staff Paper Series. 185.