FINANCING FARMLAND PRESERVATION: THE TWIN CITIES METROPOLITAN AREA EXPERIENCE

Leah R. Greden and Steven Taff

No 13413, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: Two farmland protection programs in the Twin Cities (Minnesota) Metropolitan Area--Green Acres and Agricultural Preserves-- together enrolled 608,331 acres in 1992. The principal financing tool was a provision common to both programs under which participating landowners paid reduced property taxes in exchange for certain non- development assurances. The resulting shift in property tax obligations to other taxpayers amounted to $7.6 million for the 1993 tax year, an average shift of $12.50 per enrolled acre. Annual per- acre tax reductions across localities ranged from zero to $933.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 46
Date: 1994
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:13413

DOI: 10.22004/ag.econ.13413

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