Agricultural Land Values Research Articles

DETERMINANTS OF FARMERS' ATTITUDES TOWARD FARM LAND MAINTENANCE AND IMPROVEMENT PRACTICES IN SOME VILLAGES IN BEHEIRA, GHARBIA, AND KAFR EL-SHEIKH GOVERNORATES

This research aimed to determine farmers' attitudes toward farm land maintenance and improvement practices , to test the differences in attitudes between villages, to identify the relative importance of independent variables in explaining variance in the farmers attitudes, and to identify suggestions of farmers that encourage them to improve and maintain farm lan .To achieve the objectives of the research. A systematic random sample of 300 farmers was selected from the three villages of Abo el- Mag, Behir, Mahalla El-Qasab, Kafr El-sheikh, and Moatamedia, Gharbia . Data were collected during May, June 2012 by personal interviews. Means, Variances, Simple correlation and Multiple regression were used for data analysis. The most important results could be summarized as follows: 1- Approximately one half of the respondents had positive attitudes toward farm land improvement and maintenance practices, While the other half of respondents had neutral or negative attitudes. 2- The variables of educational level, farming experience sources of the environmental agricultural information, monthly household income, facilities of the community, belonging to the local communit, value of agricultural soil, knowledge about damage caused by environmental practices correlated significantly with attitude toward farm land improvement and maintenance practices. 3- The independent variables, combined explained 54% of the variation in attitude toward farm land improvement and maintenance practices however, there are six variables explain about 52.8% of the variance these are educational level, farming experience community facilities, belonging to the local community, value of agricultural land and the, knowledge about damage caused by environmental pollution practices. 4- The most important suggestions that encourage farmers to improve and maintain farm land are: teaching environmental courses in all levels of education including maintaining farm land (81.41%) raising awareness with the importance of farm land and its value (77.5%), severe sanctions and law inforcement againist misuse and for building on farm land (75.96%) in view of these results, seven recommendations were stated .

Carnivore Use of Avocado Orchards across an Agricultural-Wildland Gradient

Wide-ranging species cannot persist in reserves alone. Consequently, there is growing interest in the conservation value of agricultural lands that separate or buffer natural areas. The value of agricultural lands for wildlife habitat and connectivity varies as a function of the crop type and landscape context, and quantifying these differences will improve our ability to manage these lands more effectively for animals. In southern California, many species are present in avocado orchards, including mammalian carnivores. We examined occupancy of avocado orchards by mammalian carnivores across agricultural-wildland gradients in southern California with motion-activated cameras. More carnivore species were detected with cameras in orchards than in wildland sites, and for bobcats and gray foxes, orchards were associated with higher occupancy rates. Our results demonstrate that agricultural lands have potential to contribute to conservation by providing habitat or facilitating landscape connectivity.

An Analysis of the Impact of Extreme Climate Events on Agriculture in Korea

This paper analyses the impact of extreme climate events' annual variation in temperature and precipitation on agricultural land values with a panel data of 49 municipalities for 1992-2010 based upon a Ricardian approach in order to consider the short and long-term impacts of climate change. The estimates indicate that heavy rainfall-related extreme climate events negatively affect agricultural land values. However, summer-related extreme events in temperature are negatively related to agricultural land values, while winter-related ones in temperature have a positive impact on them except for extreme cold wave in the daytime. This result confirms that temperature-related variables are more significant than precipitation-related ones in explaining and measuring the economic effect of global warming and extreme climate events on agriculture in Korea.

AN AGRICULTURAL LAND VALUE ASSESSMENT MODEL

Summary The aim of this article is to establish and present a model which is possible and necessary to apply when assessing the value of an agricultural land in the existing economic, legal and market framework of the Republic of Serbia. This article is a preliminary and integral component of a broader research project titled Value Assessment for Various Types of Real Estate in the Republic of Serbia and the Possibility of Their Expression in Accounting, realized at the Faculty of Real Estate Management, Union Nikola Tesla University, Belgrade. The article presents only those preliminary results and the model related to the specified topic, and uses the methods which are successfully employed, in this domain, in the developed countries, primarily in the USA, Germany and France and which are modified with respect to the legal framework and market conditions in the Republic of Serbia. The topic is significant and relevant in light of the announced privatization of 10,000 ha of agricultural land. It is also possible to use this model to re-examine the validity of earlier agricultural land value assessments within the process of privatization of certain agricultural properties.

The Impact of Economic Transformation and the Credibility of Planning Control on Agricultural Land Values

The Impact of Economic Transformation and the Credibility of Planning Control on Agricultural Land Values

The evolving role of agricultural technology indicators and economic growth in rural poverty: has the ideas machine broken down?

The objective of the study is to examine the impact of technical progress in agriculture on changes in rural poverty in Pakistan by using annual data from 1975–2011. Data is analyzed by the set of sophisticated econometric techniques i.e., cointegration theory, Granger causality test and variance decomposition, etc. The results reveal that agricultural technology indicators act as an important driver to alleviate rural poverty in Pakistan. Granger causality test indicate that causality runs from technological indicators to rural poverty but not vice versa. However, agricultural irrigated land and industry value added, both does not Granger cause rural poverty, which holds neutrality hypothesis between the variables. Variance decomposition analysis shows that among all the technological indicators, agricultural machinery in form of tractors have exerts the largest contribution to changes in rural poverty in Pakistan. The study concludes that agricultural technology indicators are closely associated with economic growth and rural poverty in Pakistan. Technology in Pakistan has a low pace but still old technology continuously contributed towards poverty reduction. The question whether idea machine is broken down or not? Still need further exploration.

The Impacts of the Tax-Deferred Exchange Provision on Farm Real Estate Values

This study examines the effects of the Section 1031 tax-deferred exchange provision on agricultural land values. The provision allows taxpayers to defer taxation for relinquished productive assets if a like-kind asset is acquired within the allotted time of 180 days. The analysis examines a set of 3,580 farm real estate transaction from 55 agricultural counties in Indiana over the period 2003–2006. Hedonic price analysis suggests that properties acquired under a like-kind exchange are associated with a 1.32% price premium. <i>(JEL H23, Q15)</i>

The Effects of Environmental Amenities on Agricultural Land Values

Ascribing agricultural land values solely to productive capacity does not accurately capture the impact of environmental amenities on western land prices. We analyze rural land prices in Wyoming using a hedonic price model. Geographic information systems data includes on-parcel wildlife and fish habitat, scenic view attributes, and distance to protected federal lands. Feasible generalized least squares is used to address spatial autocorrelation and heteroskedasticity. Results indicate that environmental amenities contribute to land values. Examination of the marginal effects of amenities on parcel price furthers these conclusions. Environmental amenities contributions to land prices may guide resource allocation decisions across diverse demands. <i>(JEL Q24)</i>

A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008

G. Donoso, J. Cancino, R. Olguin, and D. Schonhaut. 2013. A comparison of farmland value determinants in Chile between 1978-1998 and 1999-2008. Cien. Inv. Agr. 40(1):8596. Research on the determinants that influence the price of farmland has found renewed interest in the past decade because agricultural land values are an important source of information for tracing the distribution of benefits generated by agricultural growth. This study’s objective is to identify the determinants of the value of agricultural land in Chile for the periods 1978-1998 and 1999-2008 to analyze the evolution of the factors that determined the price of agricultural land between these two periods. The explanatory power of the estimated hedonic land price model is significantly greater for the period 1978-1998 (R 2 = 67%). The lower explanatory power of the model for the period 1999-2008 (R 2 = 29%) indicates that factors not accounted for in the model have increased its importance during the past decade. Thus, a different set of factors determines farmland value for each time period. Further research is required to identify the determining factors of farmland value during the last decade. Some variables maintained their relative importance during both time periods. Such is the case of the importance of the distance between the farm and Santiago, which ranked second in both periods, and total farm surface, which ranked fifth. All other variables present changes in their relative importance. The price trend increased from the third to the first rank in the last decade. The price of the most important agricultural product increased 5 positions and was ranked third during the period 1999-2008. The distance of the farm to the regional capital increases from its previous position in 1978-1998 to the fourth position during the last decade. Other factors that increased their importance are the interaction between the distance to Santiago with the time trend and the presence of construction. The variables that reduce their relative importance are the farmland aptitude variables.

Andamento dei valori fondiari in Italia ed in Sicilia

The present study has two aims, to provide a further contribute to the literature on land market, and to highlight the possible relationships between some macroeconomic factors affecting the land values trend in Italy and in Sicily. The data obtainable from the available information sources in the field were collected and processed. More in detail, in the first part of the paper a reference scenario is described through the presentation of the general features of agricultural land market, relying upon the specific scientific literature. Hereinafter, some time series at national and Sicilian level were built by using average agricultural land values, inflation rates and agricultural value added (at current and constant prices) and the relationships between the above-mentioned economic factors were pointed out.

English

This study analyzes the relationships between farmland values and factors associated with the growth in Chilean agriculture, and identifies agricultural land value’s determinants by estimating a log-linear hedonic price function. The results indicate that a parcel’s market value varies according to its suitability and productivity for different crops, its location and transport costs, its potential for residential use, and other factors that determine expectations of future income streams. Farms with soil aptitude for fruits, high-valued export-oriented crops that have led Chile’s agricultural boom, have higher values than those with forestry soil aptitude.

Did 1933 new deal legislation contribute to farm real estate values: A regional analysis

The proportion of land values generated by farm program payments and farm returns are examined using an extended income capitalization model. The extended income capitalization model addresses the identification issue introduced by the counter-cyclical nature of farm program payments and farm returns. Procedures are presented that allow the estimation of agriculture land value shares without requiring explicit knowledge or assumptions with respect to the net land rental shares of farm returns or farm program payments. Results from the panel recursive or triangular-structure simultaneous equation model applied to 48 states in the U.S. for the period 1938–2010 indicate on average 24–29.2 percent and 76–70.8 percent of the agricultural land values can be identified with farm program payments and farm returns, respectively. Spatially, at the resource regional level the contribution of farm program payments was as low as 20.5 percent in the Eastern Upland region compared to a high of 69 percent in the Mississippi Seaboard region.

Comparison of alternative sources of farmland values

PurposeConsistent and reliable data on farmland values is critical to assessing the overall financial health of agricultural producers. However, little is known about the idiosyncrasies and similarities of standard land value data sources – US Department of Agriculture (USDA), Federal Reserve Bank land value surveys, and transaction prices. The purpose of this paper is to determine the differences and similarities of land value movements from three land value data sources.Design/methodology/approachIn addition to Oklahoma transaction prices, two survey sources are considered: the USDA annual report and the quarterly Tenth District Survey of Agricultural Credit Conditions administered by the Federal Reserve Bank of Kansas City. The paper describes each data set and identifies differences in data sampling, collection, and reporting. Average values of Oklahoma farmland across data sources are examined. USDA estimates are regressed against quarterly Federal Reserve values across multiple states to determine the point in time represented by USDA estimates. Granger causality tests determine if Federal Reserve land value estimates anticipate movements in USDA land value estimates.FindingsIt is found that all three data sources are highly correlated, but transaction prices tend to be higher, especially for irrigated cropland and ranchland. USDA land values are reported as representing land values on January first, but instead they more closely represent first and second quarter land values according to a multi‐state comparison to changes in quarterly Federal Reserve land values. Given the finding that first quarter Federal Reserve Bank land values lead USDA land values and that they are published before the USDA release, Federal Reserve land values are a timely indicator of agricultural producers' financial position.Originality/valueNo previous research has addressed the topic of how various sources of agricultural land values compare.

Nature versus Nurture: The Environment's Persistent Influence through the Modernization of American Agriculture

Technological innovation in agriculture was substantial during the 20th century. Is “modern” technological control of the environment replacing a “primitive” dependency on natural advantages and disadvantages, or has agricultural production remained persistently dependent on the environment? This paper estimates how the 20th century modernization of United States Plains' agriculture changed the impact of environmental characteristics on agricultural land values. Despite substantial technological innovation and rising land values from 1945 to 2002, counties' environmental characteristics largely maintained influence on land values. Environmental change has become no less costly, as technological innovation has not reduced the importance of natural advantages or disadvantages.

Characteristics of land value variation and the urban land market in Kathmandu, Nepal1

This paper examines the characteristics of the urban land market in Kathmandu, the capital city of Nepal, in two stages by analysing land value variation in 2002 and 2009. In the first stage, it captures the characteristics of urban spatial structure, using the extended land value gradient model which includes not only the distance from the city centre but also zoning, road accessibility and planning variables as the determinants of land values. The estimates show that urban growth in Kathmandu has recently been characterized by neither centralization nor suburbanization with little shift in urban land demand between central and peripheral areas. Instead, land values have increased significantly across all urban areas, indicating the possibility of overall excess demand for urban plots. Correspondingly, in the second stage whether the supply is sufficient in urban land market is tested using two methods. First, by investigating the data on land pooling projects, urban land value after the project turns out to be greater than the sum of agricultural land value before the project and rural-to-urban conversion costs. Second, the actual or physical distance of urban-rural boundary turns out to be shorter than the theoretical or economic distance derived from the estimates of the extended gradient model. Both results confirm that urban land supply is in a shortage in Kathmandu.

農地価格・小作料下落の要因と農地問題

This paper discusses the trend of agricultural land valuation and land rental in the northeast, by taking Tsuruoka in Yamagata province as an example. Analyses are made of the trend in agricultural land transfers between land buyer and seller. In addition, it is seen that government and agriculture cooperatives have used successful methods to maintain the value of local agricultural land during the continued decline in land prices.The paper also reports research on the preservation and fluidization of agricultural land according to the impact of local agriculture and declining land prices.

Valuation of irrigation water in South-western Iran using a hedonic pricing model

Population growth, improved socioeconomic conditions, increased demand for various types of water use, and a reduction in water supply has created more competition for scarce water supplies leveling many countries. Efficient allocation of water supplies between different economic sectors is therefore very important. Water valuation is a useful tool to determine water price. Water pricing can play a major part in improving water allocation by encouraging users to conserve scarce water resources, and promoting improvements in productivity. We used a hedonic pricing method to reveal the implicit value of irrigation water by analyzing agricultural land values in farms under the Doroodzan dam in South-western Iran. The method was applied to farms in which irrigation water came from wells and canals. The availability of irrigation water was one of the most important factors influencing land prices. The value of irrigation water in the farms investigated was estimated to be $0.046 per cubic meter. The estimated price for water was clearly higher than the price farmers currently pay for water in the area of study. Efficient water pricing could help the sustainability of the water resources. Farmers must therefore be informed of the real value of irrigation water used on their land.

DAMPAK ERUPSI GUNUNG MERAPI TERHADAP NILAI LAHAN DAN BANGUNAN: PENDEKATAN HEDONIC PRICE

This study aims to conduct economic valuation of volcanic eruption impacts in disaster prone areas of Merapi eruption. Economic valuation of flood disaster impacts were calculated using the hedonic price method. The disaster prone areas of Merapi eruption are the area especially located in Sleman Regency, they are Turi, Pakem, Cangkringan, and Ngemplak Districts.The results of this study indicate that the hedonic price method can be applied in Sleman Regency to obtain estimates marginal damage to property value caused by flooding. The significance of height level of deposits of volcanic material coefficient shows that flood is indeed depressing the agricultural land value. The sample household’s average marginal willingness to pay (MWTP) for a unit decrease in height level of deposits of volcanic material in their agricultural land is estimated at a reasonable amount of Rp 653,800.00. By conducting economic valuation in the Sleman Regency, is expected to be also done in other areas vulnerable to volcanic eruption disasters.

Tasmanian landowner preferences for conservation incentive programs: A latent class approach

An empirical model of landowners’ conservation incentive program choice is developed in which information about landowners’ socio-economic and property characteristics and their attitudes, is combined with incentive program attributes. In a Choice survey landowners were presented with the choice of two incentive programs modelled as 'bundles of attributes’ mimicking a voluntary choice scenario. Landowner behaviour and decision and the type of conditions and regulations they preferred were analyzed.Based on choice survey data, landowner heterogeneity was accounted for using a latent class approach to estimate the preference parameters. Three latent classes of landowners with different attitudes to the role and outcome of establishing conservation reserves on private land were identified: multi-objective owners; environment owners; and production owners.Only a small proportion of landowners, mostly environment owners, would voluntarily join a program. Although compensation funding contributed to voluntary program choice for multi-objective owners and environment owners, welfare losses were around 4000 AUD per hectare, which is less than the average agricultural land value in Tasmania.Landowners for whom compensation funding contributed to voluntary program choice were also most likely to set aside land for conservation without payment. This raises the possibility that the government’s compensation expenditure could potentially be either reduced or re-allocated to landowners who will not voluntarily take conservation action. Increasing participation in conservation incentive programs and minimizing the welfare losses associated with meeting conservation targets may be best achieved by offering programs that allow flexibility in terms of legal arrangements and other program attributes.

Exurban development

Exurbia, the rural area beyond the built-up urban and contiguous suburban area, is being developed rapidly with attendant losses in habitat and ecosystem services. This paper analyzes a spatial dynamic model with two production technologies for residential development—municipal sewer service for suburban development and septic systems for exurban development. In outlying agricultural areas, the additional sewer extension costs can significantly reduce the value of agricultural land in suburban use. Exurban development, while at lower density, can occur immediately and requires only the onsite conversion costs of septic systems. Hence, the willingness to pay for exurban use from households with higher preferences for lot size may exceed the agricultural landowner's reservation price on future suburban use for a range of distances from the city boundary. This results in a “feasible zone” for exurban leapfrog development and another fundamental reason for scattered development in the urban–rural fringe.