Purpose. The purpose of the article – deepening the conceptual provisions of the normative monetary evaluation of agricultural lands based on the analysis of the methodology of land use economics, which is the basis of the Methodology of normative monetary evaluation of agricultural lands (1995, 2016) for greater accordance with modern stage of agriculture in the formation of market circulation of agricultural land. Methodology / approach. The article uses the following methods on the basis of the dialectical method of cognition: abstract and logical – in the systematization of publications on the use and evaluation of agricultural lands; analysis, synthesis and comparison - in the analysis and comparison of theoretical and methodological provisions of the official Methodology of normative monetary evaluation of agricultural lands in 1995 and 2016; method of generalization – in drawing conclusions; graphic method – to visualize the characteristics of land as a triune means of production; calculation and constructive – when developing methodological approaches to determining the differential rental income and normative monetary evaluation of agricultural lands and arable lands of better and worse quality for the Forest-Steppe natural-climatic zone of Sumy region. By writing the article we used scientific works of domestic and foreign scholars for the 1995–2020 period, as well as data from the official websites of the State Service of Ukraine for Geodesy, Cartography and Cadaster and the State Statistics Service of Ukraine have been used. Results. Based on the comparison of methodologies, the conceptual provisions for improving the methodological bases of normative monetary evaluation of agricultural lands are substantiated, which allow more systematic and comprehensive consideration in land evaluation of its characteristics as a means of labor, object of labor and spatial basis. Methodical approaches to the definition of differential rental income and normative monetary evaluation of lands are proposed, which are based on the use of a crops set and the terms of crop rotation. The monetary evaluation of arable lands of better and worse quality for the Forest-Steppe natural-climatic zone of Sumy region is calculated taking into account the proposed provisions and more fully corresponds to the current stage of agricultural management in the formation of market circulation of agricultural land. Originality / scientific novelty. Conceptual provisions for improving the methodological bases of normative monetary evaluation of agricultural lands are proposed, in particular: to use a crop set of evidence-based crop rotation for land evaluation; to carry out re-assessments of lands after the expiration of the crop rotation and to apply compensation payments for increasing fertility or penalties for deteriorating fertility on the basis of the assessment results. Methodical approach to determining the differential rental income based on the comparison of regulatory yields and income from crop production on the best and worst fertile lands is proposed in this article. Also it is proposed to take into account not only the data on the cost of rent and state support of agriculture, but also the data on the need for funds to finance land management and land protection works when determining the absolute rent; to fund the livestock industry, which will contribute to crop rotations and soil fertility. Practical value / implications. Based on the proposals to improve the normative monetary evaluation of agricultural lands, the normative monetary evaluation of arable lands for the Forest-Steppe natural-climatic zone of Sumy region is calculated, which more accurately corresponds to prices for lands in Western countries and can be implemented in the formation of market circulation of agricultural land.