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Corn ethanol plants consume large amounts of corn and their location has the potential to alter local crop prices and surrounding agricultural land values. The purpose of this paper is to analyze the local economic impact of ethanol plant locations on farmland values.

The relationship between ethanol plant location and agricultural land prices is examined using data obtained from the Agricultural Credit Survey administered by the Federal Reserve Bank of Kansas City.

The findings indicate that ethanol plant location has had an impact on land values. The portion of land price changes attributable to location is consistent with previous estimates of basis changes associated with ethanol plant location.

The paper finds that land markets appear to be rationally adjusting to the location of ethanol plants.

Consistent and reliable data on farmland values is critical to assessing the overall financial health of agricultural producers. However, little is known about the idiosyncrasies and similarities of standard land value data sources – US Department of Agriculture (USDA), Federal Reserve Bank land value surveys, and transaction prices. The purpose of this paper is to determine the differences and similarities of land value movements from three land value data sources.

In addition to Oklahoma transaction prices, two survey sources are considered: the USDA annual report and the quarterly Tenth District Survey of Agricultural Credit Conditions administered by the Federal Reserve Bank of Kansas City. The paper describes each data set and identifies differences in data sampling, collection, and reporting. Average values of Oklahoma farmland across data sources are examined. USDA estimates are regressed against quarterly Federal Reserve values across multiple states to determine the point in time represented by USDA estimates. Granger causality tests determine if Federal Reserve land value estimates anticipate movements in USDA land value estimates.

It is found that all three data sources are highly correlated, but transaction prices tend to be higher, especially for irrigated cropland and ranchland. USDA land values are reported as representing land values on January first, but instead they more closely represent first and second quarter land values according to a multi‐state comparison to changes in quarterly Federal Reserve land values. Given the finding that first quarter Federal Reserve Bank land values lead USDA land values and that they are published before the USDA release, Federal Reserve land values are a timely indicator of agricultural producers' financial position.

No previous research has addressed the topic of how various sources of agricultural land values compare.

With the decline of US net farm income from $123.8 billion in 2013 to $71.5 billion forecasted for 2016, concern has developed regarding the future path of agricultural land values. The purpose of this paper is to examine the relationship between net farm income, cash rents and land values in the state of Kansas and provides insight regarding future land values.

This study estimates partial adjustment models for cash rent and land values and uses those results to infer long-run capitalization rates and earnings multipliers. These models are used to forecast Kansas land values through 2018 and also the long-run price of farmland given 2016 expectations.

Land adjusts to changes in Kansas net farm income slowly with a one-year elasticity of 6.7 percent. The long-run elasticity is 96.9 percent which is very close to the 100 percent suggested by the theoretical income capitalization model. The long-run multiplier for income in Kansas is 21.71 which implies a capitalization rate of 4.61 percent. The estimated results suggest that Kansas land values would peak in 2016 and begin to slowly decline. If market conditions were to remain the same, land values would ultimately decrease to $1,171 per acre, a 28 percent decline from current levels.

Declines of the magnitude in estimated land values could negatively affect the financial condition of the sector. Factors such as a change in the long-run capitalization rate or unexpected supply or demand shocks for agricultural commodities globally could certainly alter the long-term prospects. However, current expectations as of March 2016 suggest that farmers will face difficult conditions over the next few years.

This paper seeks to explore the dynamics of the spatial distribution of landed residential property values in Singapore in the 1990s. Topics covered include: spatial patterns that can be discerned in the distribution of landed property values; how property values change over time; and how government intervention influenced this dynamic property value surface. Data are collected from the Singapore Institute of Surveyors and Valuers property transaction database, and are analysed by using the geographic information system, parametric and non‐parametric statistics. Findings of this paper contribute to the understanding of the urban dynamics of an Asian metropolis, especially in terms of its residential property market and internal spatial structure.

Investigates and evaluates land use data and valuation in Sydney′s central area. Proposes that, in order to make informed investment decisions, there should be an understanding of the nature and functioning of the physical environment in which funds are to be committed. Investigates what things belong in an urban area. Concludes with data related to how land is used. States that lowest land value and floor level classes tend to be allocated to goods handling and destinations for mass gatherings of people; highest land value and floor‐level are allocated to business categories.

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the potential tax base, and undervalue what they do measure. The purpose of this paper is to present more comprehensive and accurate measures of land rents and values, and several modes of raising revenues from them besides the conventional property tax.

The paper identifies 16 elements of land's taxable capacity that received authorities either trivialize or omit. These 16 elements come in four groups.

In Group A, Elements 1‐4 correct for the downward bias in standard sources. In Group B, Elements 5‐10 broaden the concepts of land and rent beyond the conventional narrow perception, while Elements 11‐12 estimate rents to be gained by abating other kinds of taxes. In Group C, Elements 13‐14 explain how using the land tax, since it has no excess burden, uncaps feasible tax rates. In Group D, Elements 15‐16 define some moot possibilities that may warrant further exploration.

This paper shows how previous estimates of rent and land values have been narrowly limited to a fraction of the whole, thus giving a false impression that the tax capacity is low. The paper adds 14 elements to the traditional narrow “single tax” base, plus two moot elements advanced for future consideration. Any one of these 16 elements indicates a much higher land tax base than economists commonly recognize today. Taken together they are overwhelming, and cast an entirely new light on this subject.

Land value in urban areas in India is influenced by regulations, bylaws and the amenities associated with them. Planning interventions play a significant role in enhancing the quality of the neighbourhood, thereby resulting in a change in its value. Land is a distinct commodity due to its fixed location, and planning interventions are also specific to certain locations. Consequently, the factors influencing land value will vary across different areas. While recent literature has explored some determinants of land value individually, conducting a comprehensive study specific to each location would be more beneficial for making informed policy decisions. Therefore, this article aims to examine and identify the critical factors that impact the value of residential land in the National Capital Territory of Delhi, India.

The study employed a combination of semi-structured and structured interview methods to construct a Relative Importance Index (RII) and ascertain the critical determinants affecting residential land value. A sample of 36 experts, comprising property valuers, urban planners and real estate professionals operating within the National Capital Territory of Delhi, India, were selected using snowball sampling techniques. Subsequently, rank correlation and ANOVA methods were employed to evaluate the obtained results.

Location and stage of urban development are the most critical determinants in determining residential land values in the National Capital Territory of Delhi, India. The study identifies a total of 13 critical determinants.

A scenario planning approach can be developed to achieve an equitable distribution of values and land use entropy. A land value assessment model can also be developed to assist professional valuers.

There has been a lack of emphasis on assessing the impact of planning interventions and territorial regulation on land values in the context of Delhi. This study will contribute to policy decision-making by developing a rank list of planning-based determinants of land value.

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

The purpose of this paper is to investigate the impact of land tenure on housing values in metropolitan Kampala.

A hedonic model is used to test the relationship between housing prices, land tenure and housing attributes using a cross-sectional dataset of transaction prices for 590 newly built houses sold in 2011.

Public leaseholds in Kampala offer a premium of 23 per cent in housing values compared to freeholds. This could be due to a lack of formal systems for the assessment of leasehold premium and ground rent charges, an arrangement which can offer utility to the lesse at the expense of lessor, thereby making leaseholds popular on the market, or the developers’ lack of information on the benefits of freehold causing them to value leaseholds higher than freeholds. Similarly, private mailo tenure offers a 12 per cent premium in housing values compared to freeholds. There is no significant impact of Kabaka’s mailo tenure on housing values. When compared to private mailo, public leaseholds offer an 11 per cent premium in housing values.

There is a need to advance leasehold as the urban land tenure for Uganda, disentangle multiple-layers of ownership on mailo land and roll out the land fund to enhance growth of the housing market in Kampala.

This paper is the first of its kind to empirically examine the impact of mailo land tenure on housing values. Findings provide useful insights for investors and policymakers in the housing sector in Uganda.

In recent years, prices for prime farmland have increased substantially, begging the question is the dramatic increase the result of a speculative bubble or consistent with market fundamentals with increases driven by increased global demand, low interest rates, and recent changes to US agricultural and energy policies. The purpose of this paper is to investigate the impacts of recent agricultural support policies and ethanol policies on farmland values and rental rates.

Farm-level Agricultural Resource Management Survey data collected by the United States Department of Agriculture (USDA) between 1998 and 2008 as well as county-level data collected by the USDA, US Census Bureau, and Bureau of Economic Analysis are used to determine the impacts of recent agricultural support policies and ethanol policies on farmland values and rental rates, while controlling for parcel characteristics and urban pressure. Specifically, weighted ordinary least squares and two-stage least squares are used to investigate the impact of various governmental agricultural support policies, corn ethanol facilities location, and local corn ethanol production capacity on farmland values and rental rates.

The results indicate that government payments, urban pressure, and the proximity of the parcel to an ethanol facility have a positive impact on both farmland values and rental rates. More specifically, parcels located in the same county as at least one corn ethanol facility are more valuable and command higher rental rates. In addition, county-level ethanol production capacity is positively associated with farmland values and rental rates. An inverse relationship between distance of the parcels from an ethanol facility and farmland values is also found; a similar result is found for rental rates.

The findings suggest that agricultural support payments and ethanol policies are capitalized into farmland values. These findings have important implications for the formulation of future farm policy. A limitation of the analyses is that farmland values are estimated by landowners; future research could utilize farmland transaction data to overcome potential biases generated by using landowner estimates. In addition, while our study period covers 11 years, future research could expand the time period further to analyze the effect of more recent agricultural and ethanol policies.

This paper extends prior research pertaining to factors influencing farmland values and rental rates by also examining the proximity of the parcel to an operating ethanol facility using a unique data set.