Click this link for the May 24, 2013 issue of Tennessee Market Highlights market052413
24
May
2013
Tennessee Market Highlights
24
May
2013
I read an article on DTN this week about crop land values in the U.S. It included a graph of how the average price per acre in Iowa has changed over the last ten years including the first quarter of 2013. Is there a place where similar information can be found about farm land values in TN?
Property owners in Haywood County received their first updated land appraisals in six years recently and to many it was quite a shock. Residential and commercial values did not increase nearly as much as farm land and there is real concern about how much more property tax owners of farm land will soon be paying.
Richard,
I have not found a graph but could put one together from NASS data. They report TN cropland (irrigated & non-irrigated) values through 2012. The latest state wide value for cropland is $3430 per acre. This is up 22% from 2006 and 51% from 10 years ago. I will look and see if there is some more regionalized data for West Tennessee.
Thanks for the question, I would encourage landowners to look closely at putting their farm in greenbelt to reduce some of their property taxes on agricultural land. That might help some.
Chuck