Estimating the Contribution of Groundwater Irrigation to Farmland Values in Phillips County, Colorado

G.D. Swanepoel, Joleen Hadrich and Christopher Goemans

Journal of the ASFMRA, 2015, vol. 2015, 14

Abstract: Hedonic price analysis is applied to farmland sales in Phillips County, Colorado to examine trends in farmland values across different land types from 1999-2012. Results demonstrate that irrigated acres resulted in the highest farmland value while well depth decreased this value. The marginal value of an acre foot of water on irrigated farmland ranged from $3-$36 depending on well depth and the discount rate used. This highlights the potential long-term negative impacts that lowering groundwater tables have on agricultural enterprises that rely on wells for irrigation.

Keywords: Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jasfmr:233878

DOI: 10.22004/ag.econ.233878

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