Kansas Land Values by County; A report from Kansas State University

Kansas Land Values by County; A report from Kansas State University

Each year Dr. Mykel Taylor, professor of Ag Economics at Kansas State University analyzes county-level estimates for 2017 Kansas land values for irrigated and non-irrigated cropland, and pasture. The full report can be found online at www.agmanager.info.

The value of Kansas cropland and pasture land has been changing rapidly over the past several years. As a result, many people are interested in current estimates of the value of an average parcel of ground for their county. Since Kansas is a non-disclosure state, there is very little publicly available information people may use for determining county-average land values.

In an attempt to improve the amount of land value information available, the Kansas Property Valuation Department (PVD) provides K-State with data on agricultural land sales. These data reflect agricultural land sales in Kansas from 2014 through 2017. To obtain estimates
that reflect land sold for agricultural purposes in an “arm’s-length” transaction, some observations were removed from the original dataset. The sales data used in the analysis were limited to bare land (undeveloped) parcels of at least 40 acres in size. These filtered data were used in a regression analysis to estimate county-specific land (non-irrigated, irrigated, and pasture) values, referred to as KSU-PVD. The land-value model used characteristics of the parcels sold to determine impacts on price. Characteristics such as parcel size, growing season rainfall and temperature averages, soil characteristics (e.g. slope, percentage of sand, silt, and clay), percent of pasture and cropland within a parcel, and when a parcel was sold were all used to estimate county-level land values.

You can view the report online by following the link below: 

2017 Kansas County-Level Land Values

 

For more information about this report or other resources for landowners and agricultural operations contact Mykel Taylor, K-State Ag Economics, (785) 532-3033, mtaylor@ksu.edu, Department of Agricultural Economics, Kansas State University

 

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