Government Program Payments and Non-agricultural Returns Affect Land Values

Kevin C Dhuyvetter and Terry L Kastens ( October, 2011 )

Summary

For centuries agricultural profits or rents have driven agricultural land values. Since at least the 1930´s, government farm programs have bolstered land values. More recently non-agricultural features of agricultural land have impacted land values in many parts of the U.S. This paper reveals a few of the highlights of a study that examines the interaction of agricultural returns, non-agricultural returns, and government payments in driving land values in 39 states.

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