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Contribution of Wildlife to the Value of U.S. Southern Forestland

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  • Straka, Thomas J.

Abstract

Rural appraisers should be aware of the important contribution wildlife values and hunting leases make to forestland value. Many rural appraisals take place on small family holdings that constitute about 62 percent of private forestland in the United States. Roughly 12 percent of these small forest holdings are leased for hunting or some other recreational use, producing significant annual revenue. The methodology to value these contributions is described. Using southern hunting lease revenues and a six percent real discount rate, hunting leases increased forestland values by $184.00 per acre on average, certainly a significant contribution to value.

Suggested Citation

  • Straka, Thomas J., 2011. "Contribution of Wildlife to the Value of U.S. Southern Forestland," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2011, pages 1-9, June.
    • Handle: RePEc:ags:jasfmr:118947
    DOI: 10.22004/ag.econ.118947
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    References listed on IDEAS

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    1. Messonnier, Mark L. & Luzar, E. Jane, 1990. "A Hedonic Analysis Of Private Hunting Land Attributes Using An Alternative Functional Form," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(2), pages 1-7, December.
    2. John S. Baen, 1997. "The Growing Importance and Value Implications of Recreational Hunting Leases to Agricultural Land Investors in America," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 399-414.
    3. Pope, C. Arden, III & Stoll, John R., 1985. "The Market Value Of Ingress Rights For White-Tailed Deer Hunting In Texas," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-6, July.
    4. Messonier, Mark L. & Luzar, E. Jane, 1990. "A Hedonic Analysis of Private Hunting Land Attributes Using an Alternative Functional Form," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 22(2), pages 129-135, December.
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