NORTH DAKOTA LAND VALUATION MODEL

Dwight G. Aakre, David M. Saxowsky and Harvey G. Vreugdenhil

No 23671, Staff Papers from North Dakota State University, Department of Agribusiness and Applied Economics

Abstract: The North Dakota Land Valuation Model was created by the North Dakota Legislature in the early 1980s. This model is used to estimate the value of agricultural land based on productivity for purposes of real estate tax assessment. Prior to this change, agricultural real estate was assessed based on market values. This model is used to estimate the average value per acre of cropland and non-cropland, by county, based on the value of crops and livestock produced on these lands. An average value per acre for all agricultural land in each county is calculated by weighting the value of cropland and non-cropland. This paper describes how the model is constructed, how values are calculated, and what factors impact changes in land values.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 16
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nddsps:23671

DOI: 10.22004/ag.econ.23671

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