Estimating the Contribution of Groundwater Irrigation to Farmland Values in Phillips County, Colorado

Hedonic price analysis is applied to farmland sales in Phillips County, Colorado to examine trends in farmland values across different land types from 1999-2012. Results demonstrate that irrigated acres resulted in the highest farmland value while well depth decreased this value. The marginal value of an acre foot of water on irrigated farmland ranged from $3-$36 depending on well depth and the discount rate used. This highlights the potential long-term negative impacts that lowering groundwater tables have on agricultural enterprises that rely on wells for irrigation.


Issue Date:
2015
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/233878
Published in:
Journal of the ASFMRA (American Society of Farm Managers and Rural Appraisers), 2015
Page range:
166-179
Total Pages:
14




 Record created 2017-04-01, last modified 2017-08-29

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