Document Type
Thesis - University Access Only
Award Date
2010
Degree Name
Master of Science (MS)
Department / School
Economics
First Advisor
Burton Pflueger
Abstract
The assessment of agricultural land in South Dakota for property tax purposes have seen some major changes recently as a consequence of the inability of the market value system to provide an accurate valuation of the agricultural land. The change in the assessment method from a market based valuation system to a productivity based valuation system is expected provide a more accurate agricultural land value that depends on the productive capacity of the land. This research provides a description and comparison of the market valuation method and the productivity valuation method of agricultural land, and evaluate the productivity value method recently adopted by South Dakota lawmakers to assess agricultural land. The evaluation was performed using a regression analysis of the productivity value on the ' assessed values, and on the estimated market values using historical data for the period 2004 to 2009. This research also provides an overview of what the assessed value for 2004-2009 would have been under the productivity method as if it was adopted in 2004 in comparison to the ones based on market value. An examination of the capitalization rate variation under the productivity method and the stability of the agricultural land values under the productivity value method was also done for the period, 2004-2009.
Library of Congress Subject Headings
Farms -- Valuation -- South Dakota
Agricultural productivity -- Economic aspects -- South Dakota
Land value taxation
Format
application/pdf
Publisher
South Dakota State University
Recommended Citation
Jarachi, Nabil, "The Assessment of Agricultural Land in South Dakota" (2010). Electronic Theses and Dissertations. 16.
https://openprairie.sdstate.edu/etd2/16
Rights Statement
