Study Shows Kansas Cropland, Pasture Values Higher than Traditional Reporting Methods Indicate
January 30, 2013
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K-State Study Compares Sales Data with Producer Survey Method
January 28, 2013 – A new Kansas State University study indicates that using sales transaction data in determining the value of Kansas farmland shows a higher – in some cases significantly higher – value for the land than the traditional survey method derived from producer estimates of farmland value.
“The current growth in land values and the many businesses and personal decisions affected by these values warranted more extensive analysis to obtain estimates that were less aggregated than either the state or crop reporting district-level values that were available,” said K-State Research and Extension agricultural economist Mykel Taylor. “For this study, we obtained sales transaction data from the Kansas Property Valuation Department, which reflect agricultural land sales in Kansas.”
A paper outlining the study is available online at Farm Management: Leasing. To read the full article online, click here.