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Real Property Taxes and Farm Real Estate Values: Incidence and Implications

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  • E. C. Pasour

Abstract

The relationship between reductions in real property taxes and farm real estate values is investigated. Average per acre value of farm real estate in North Carolina is regressed on the tax rate and other variables relating to farm size, land productivity, urban influence, and recreational demand. The results indicate that property tax reductions for farm real estate are largely capitalized into higher real estate values. The effect of a given decrease in tax rate for owners of farm real estate is contrasted with a similar decrease for owners of residential real estate.

Suggested Citation

  • E. C. Pasour, 1973. "Real Property Taxes and Farm Real Estate Values: Incidence and Implications," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(4_Part_1), pages 549-556.
    • Handle: RePEc:oup:ajagec:v:55:y:1973:i:4_part_1:p:549-556.
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    File URL: http://hdl.handle.net/10.2307/1238339
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    Cited by:

    1. Stam, Jerome M. & Sibold, Ann Gordon, 1977. "Agriculture and the Property Tax: A Forward Look Based on a Historical Perspective," Agricultural Economic Reports 307674, United States Department of Agriculture, Economic Research Service.
    2. Hyman, D.N. & Pasour Jr., E.C., 1973. "Reducing Property Taxes In North Carolina: An Economic Analysis," Department of Economics and Business - Archive 259537, North Carolina State University, Department of Economics.
    3. Chang, Sun Joseph, 2018. "Forest property taxation under the generalized Faustmann formula," Forest Policy and Economics, Elsevier, vol. 88(C), pages 38-45.
    4. Melville McMillan & Richard Carlson, 1977. "The Effects of Property Taxes and Local Public Services upon Residential Property Values in Small Wisconsin Cities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(1), pages 81-87.
    5. Danielson, Leon E., 1981. "The Rural Real Estate Market In North Carolina," Department of Economics and Business - Archive 259552, North Carolina State University, Department of Economics.
    6. Drummond, H. Evan, 1975. "The Incidence Of Property Taxes On Agricultural Land," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 7(1), pages 1-6, July.
    7. Drummond, H. Evan, 1975. "The Impact Of Property Tax Equalization On Rural Property In Oklahoma," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 7(2), pages 1-7, December.
    8. Pederson, Glenn D. & Coon, Randal C., 1981. "Estimation of Farmland Values for Assessment and Property Taxation in North Dakota," Agricultural Economics Reports 23452, North Dakota State University, Department of Agribusiness and Applied Economics.
    9. Barnard, Charles H. & Pfeffermann, Danny, 1990. "Combining Survey and Other Data to Estimate Agricultural Land Values," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 42(2), pages 1-13.
    10. Chang, Sun Joseph, 2018. "Forest valuation under the generalized Faustmann formula with taxation," Forest Policy and Economics, Elsevier, vol. 88(C), pages 46-51.

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