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Each year the USDA, through the National Agricultural Statistics Service (NASS), reports on agricultural land values. Generally speaking farm real estate average values per acre have stayed relatively stable in New Mexico, Colorado, Montana, and Wyoming from 2015 to 2019. Across the Mountain Region, values have risen 8% over five years in large part due to a significant rise in values in both Idaho and Utah.
At the Western Landowners Alliance Legacy on the Land event, Howard Weiss from the US Trust broke down succession planning and governance to their component parts.Succession planning has many elements. Expressed as a formula, succession planning = farm and ranch management + ownership transition + estate planning.
The historic Finlen Hotel in Butte, which opened in 1924, has sold. The transaction was made possible in part to a $412,000 loan from Butte’s Uptown taxing district, the Urban Revitalization Agency (URA). The URA is a tax-increment financing (TIF) district, which generates funds by property tax dollars from new developments that are then re-invested in private buildings in the area through grants and loans.
Nationwide, farm real estate values average $3,080 per acre in 2017, up $70 an acre or 2.3 % from 2016. The Mountain region has the lowest farm real estate value at $1,130 per acre. The value of cropland in the same region increased 1.1% year-over-year to $1,780 and pasture land values rose 1.3% to $625 per acre in 2017.
Across the entire United States, during the reference period (2015-2016), the dollar volume of land sales increased the most for timber land at 5% and residential land at 4%. Agricultural irrigated land sales fell by 1%, and non-irrigated land sales by dollar volume decreased by 2%, likely due to slump in commodity prices, according to the Land Market Survey released annually by the REALTORS® Land Institute and the National Association of REALTORS®.
We are so excited about our work that we just can't keep it to ourselves. Soon we will be featuring #inthefield photo posts revealing glimpses of the projects we are contributing to and featuring the inspiring places in which we work. Follow Topos & Anthros on Instagram to keep up with what we're doing #inthefield!
