LINCOLN- According to a recent study from the University of Nebraska Lincoln, Ag land values rose to record levels in the past year as high commodity and livestock prices and initially low interest rates drove buyers to the real estate market. From Feb. 1, 2022, to Feb. 1, 2023, the average price per acre for ag land rose to $3,835 per acre, a 14% increase compared to the previous year.

When not adjusted for inflation, this year’s figure is the highest statewide land value in the 45-year history of the Nebraska Farm Real Estate Market Survey. The findings could serve as fodder for state lawmakers looking to provide property tax relief and reduce the tax burden on ag land owners. Percentage increases on ag land valuation ranged between 13% and 17% depending on the region.

The most valuable ag land is located in the eastern third of the state with percentage increases ranging from 15% to 17%. East central Nebraska — an area that includes Douglas, Sarpy, Lancaster and other area counties — has the most valuable farmland at $9,320 per acre — a 15% increase over the year prior. But growth was the highest in southeast Nebraska with the average price per acre now valued at $7,090 — a 17% increase.

For the full article click HERE