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What drives the difference between self-reported land value and land price? A county level analysis

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  • Bigelow, Daniel P.
  • Jodlowski, Margaret

Abstract

Estimates for the asset value of agricultural land come from direct elicitation of farm operators' own assessment of the value of their land. We use data from actual sales transactions to evaluate the extent to which these estimates accurately correspond to the observed market value, or sale price, of land at the county level. We form a short panel at the county-level and compute the difference between the average sales price and the value of land to estimate a county-level fixed effects model. We find that increasing temperatures exacerbates the difference, while increasing population has the opposite relationship.

Suggested Citation

  • Bigelow, Daniel P. & Jodlowski, Margaret, 2019. "What drives the difference between self-reported land value and land price? A county level analysis," 165th Seminar, April 4-5, 2019, Berlin, Germany 288287, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaa165:288287
    DOI: 10.22004/ag.econ.288287
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    Land Economics/Use;

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