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Effect of IRC Code 1031 on Texas Agricultural Land Price

Author

Listed:
  • Park, Beam Su
  • Richardson, James W.
  • Gilliland, Charles J.

Abstract

In this paper, we examine the effect of Section 1031 tax deferred payment on Texas agricultural land price. To analyze the effects, we estimate the market equilibrium price function using the dynamic panel model and Texas agricultural land sales for 1965-2007. We argue that Section 1031 increases both demand and supply of agricultural land by its tax reducing effect. Our empirical estimation shows that Section 1031 decreases the market price which means the supply curve shifted to the right more than the demand curve.

Suggested Citation

  • Park, Beam Su & Richardson, James W. & Gilliland, Charles J., 2010. "Effect of IRC Code 1031 on Texas Agricultural Land Price," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2010, pages 1-16.
    • Handle: RePEc:ags:jasfmr:96376
    DOI: 10.22004/ag.econ.96376
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    References listed on IDEAS

    as
    1. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
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    Land Economics/Use;

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