PRESERVING AGRICULTURAL LAND WITH FARMLAND ASSESSMENT: NEW JERSEY AS A CASE STUDY

A conceptual model links agricultural profits, capital gains, interest rates, and property taxes to the sale of agricultural land by profit-maximizing owners. The model motivates an empirical analysis of New Jersey data from 1949 to 1990. Results suggest that nonagricultural considerations may overpower the economic incentives provided by such policies as farmland assessment. Consequently, alternative policies (e.g., purchase of development rights and land use zoning) may be needed to sustain agriculture in rapidly urbanizing areas.


Issue Date:
1996-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/31644
Published in:
Agricultural and Resource Economics Review, Volume 25, Number 1
Page range:
22-27
Total Pages:
6




 Record created 2017-04-01, last modified 2017-08-24

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