The Effect of the Housing Boom on Farm Land Values via Tax-Deferred Exchanges

James M. Williamson, Michael P. Brady and Ron L. Durst

No 49299, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: This project examines Section 1031 of the Internal Revenue Code and agriculture land exchanges. Stakeholders in rural communities and agriculture are particularly interested in Section 1031 because the recent growth in transaction values of farmland may have, in part, been stimulated by Section 1031 land exchanges. Further, although many have speculated that such exchanges are widely used, little empirical research exists about the provision. We examine the theory of exchanges and develop a theoretical premium value for exchanges. We also present the first evidence of like-kind exchanges involving farmland using Federal tax data.

Keywords: Land Economics/Use; Public Economics (search for similar items in EconPapers)
Pages: 30
Date: 2009
New Economics Papers: this item is included in nep-agr, nep-pbe and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49299

DOI: 10.22004/ag.econ.49299

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