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Financing Farmland Preservation: The Twin Cities Metropolitan Area Experience

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  • Greden, Leah R.
  • Taff, Steven J.

Abstract

Two farmland protection programs in the Twin Cities (Minnesota) Metropolitan Area--Green Acres and Agricultural Preserves-- together enrolled 608,331 acres in 1992. The principal financing tool was a provision common to both programs under which participating landowners paid reduced property taxes in exchange for certain non- development assurances. The resulting shift in property tax obligations to other taxpayers amounted to $7.6 million for the 1993 tax year, an average shift of $12.50 per enrolled acre. Annual per- acre tax reductions across localities ranged from zero to $933.

Suggested Citation

  • Greden, Leah R. & Taff, Steven J., 1994. "Financing Farmland Preservation: The Twin Cities Metropolitan Area Experience," Staff Papers 13413, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13413
    DOI: 10.22004/ag.econ.13413
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    File URL: https://ageconsearch.umn.edu/record/13413/files/p94-09.pdf
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    References listed on IDEAS

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    1. Bergstrom, John C. & Dillman, B.L. & Stoll, John R., 1985. "Public Environmental Amenity Benefits Of Private Land: The Case Of Prime Agricultural Land," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-11, July.
    2. Roy Boyd & Geoffrey K. Turnbull, 1989. "The Effects of Greenspace Tax Laws on Urban Development," The Review of Regional Studies, Southern Regional Science Association, vol. 19(2), pages 30-39, Spring.
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    Cited by:

    1. Taff, Steven J., 2002. "Community-Wide Financial Impacts Of Preferential Assessments For Farmland Properties," Staff Papers 13244, University of Minnesota, Department of Applied Economics.

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