By Gary Joiner
Land values haven’t fared well across the U.S. compared to a year ago. Analysts say the situation in Texas is better than in most states, but increases in land values in 2016 are less than those of recent years.
Double-digit increases have been replaced by growth of only 2.75 percent. Pastureland values in Texas, meanwhile, remain flat.
Why? Land values are influenced by beef prices and income, according to analysts. Both are down significantly right now.
Just as Texas homeowners worry about the annual appraised value of their residence, farmers and ranchers closely monitor land values. Because land is a critical asset. Its value weighs heavily in financing options and decisions.
Farmers and ranchers counter a drop in farm real estate by sharpening those tools they can control. Things such as efficient management, focused marketing and, as always, hard work.
You’ve likely heard the description, “Land rich and cash poor.” That certainly is the traditional position of many farmers and ranchers. That’s why land values are so important. Much is at stake in this annual forecast.
Their economic vulnerability to swings in the market is only matched by their resolve and resiliency.
Well you need to tell Wharton county appraisal district. Fair market value is 6500 an acre, but they say fair market value is 10,000 an acre. Somebody needs to correct this county appraisal group, because they are aggressive, unfair, and if you dispute; the review committee just sides always with the district. Need help, but no one will correct them! Where is our state attorney general?