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The Impact of Combined Grass and Wetland Easements on Agricultural Land Values in South Dakota

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  • Shultz, Steven
  • Pool, Duane

Abstract

The impact of U.S. Fish and Wildlife Service grass and wetland easements on agricultural land values across three counties in the Prairie Pothole Region of South Dakota were determined by comparing the sale prices of 38 easement encumbered properties sold between 1994 and 2000 across 9 counties in South Dakota, with hypothetical fee simple sale prices calculated using land values from comparable sales without easements. On average grass/wetland easements reduced sale prices by 6.6 percent. Alternatively, 60 percent of properties had reduced sale prices attributed to easements. However, almost 95 percent of sellers were more than sufficiently compensated for reduced sale prices by earlier USFWS easement payments and average net impacts to sellers of easement encumbered land was a positive 30 percent.

Suggested Citation

  • Shultz, Steven & Pool, Duane, 2005. "The Impact of Combined Grass and Wetland Easements on Agricultural Land Values in South Dakota," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2005, pages 1-6.
    • Handle: RePEc:ags:jasfmr:190719
    DOI: 10.22004/ag.econ.190719
    as

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    File URL: https://ageconsearch.umn.edu/record/190719/files/236.pdf
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    References listed on IDEAS

    as
    1. Ralph J. Brown, 1976. "A Study of the Impact of the Wetlands Easement Program on Agricultural Land Values," Land Economics, University of Wisconsin Press, vol. 52(4), pages 509-517.
    2. Steven D. Shultz & Steven J. Taff, 2004. "Implicit Prices of Wetland Easements in Areas of Production Agriculture," Land Economics, University of Wisconsin Press, vol. 80(4).
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