Michael Duffy, Faculty, Economics
Iowa land values have reached historic levels. The rapid increase in values has made it difficult for young people to get started farming. It has also made it difficult for farmers and others to know how to plan. Finally, people who have inherited Iowa farmland do not know what to do with the land nor how much it is worth.
ISUE provides two major responses to help all Iowa citizens to value land and deal with rising land values. There is an annual land value survey. This survey receives nation wide coverage when it is released. It is the head line story in the largest newspaper in Iowa. In addition, the Soil Management and Land Valuation conference is held every year. This was the 78th year for the conference. It is the longest running conference on the ISU campus. There was near record attendance this year with 295 paid registrants. In addition there has been a referred journal article published on the returns to Iowa farmland, a session at the farm policy summit on land values and numerous talks and interviews regarding land values and what is happening with the land market.
There were 295 people at the soil management conference, there were over 5,000 copies of the land value survey distributed and there were over 25 interviews given regarding the land values. This activity has helped save Iowans millions of dollars as they try to determine what to do with their land. The information from the survey is used in establishing rents, it is used in court cases and it is used to help settle estates.
104 -- Financial Management
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July 6, 2006
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