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Preserving Agricultural Land with Farmland Assessment: New Jersey as a Case Study

Published online by Cambridge University Press:  15 September 2016

Peter J. Parks  and
Wilma Rose H. Quimio
Peter J. Parks
Affiliation:
members of the Department of Agricultural Economics and Marketing, Cook College, Rutgers University, New Brunswick, New Jersey
Wilma Rose H. Quimio
Affiliation:
members of the Department of Agricultural Economics and Marketing, Cook College, Rutgers University, New Brunswick, New Jersey
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Abstract

A conceptual model links agricultural profits, capital gains, interest rates, and property taxes to the sale of agricultural land by profit-maximizing owners. The model motivates an empirical analysis of New Jersey data from 1949 to 1990. Results suggest that nonagricultural considerations may overpower the economic incentives provided by such policies as farmland assessment. Consequently, alternative policies (e.g., purchase of development rights and land use zoning) may be needed to sustain agriculture in rapidly urbanizing areas.

Type
Articles
Information
Agricultural and Resource Economics Review , Volume 25 , Issue 1 , April 1996 , pp. 22 - 27
Copyright
Copyright © 1996 Northeastern Agricultural and Resource Economics Association 

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