INCREASE IN LAND VALUES

County Assessor, Doreen Pehrson has recommended a 10% increase in the value of agricultural land for the year 2009. This will bring the average estimated market value for tillable land in Nicollet County to $4,450. The sales used to make these determinations were over the past year and we saw some high value sales of land – most likely fueled by the summer highs in the commodities of corn and beans. The highest value ag land lies in Belgrade Township followed by Nicollet Township and then Lake Prairie Township.

Some of us “old timers” were not set whirling by these conditions. The history that comes with age makes us a bit skeptical of the aberrations in the market. Land has already taken a turn south. Recent auctions of farms have been cancelled or were not able to be held because of a lack of bidders. Whether we will see this value of $4,450 decrease in the future is anyone’s guess. End.