Hostname: page-component-586b7cd67f-rcrh6 Total loading time: 0 Render date: 2024-11-30T17:11:10.213Z Has data issue: false hasContentIssue false
  • English
  • Français

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
Get access

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 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Adelaja, A., Decter, S., and Tavernier, E. New Jersey Agriculture: Strategies to Deal with Current Critical Problems. Executive Summary. New Jersey Agricultural Experiment Station Publication No. SR-02134-1-93. New Brunswick, 1993.Google Scholar
American Farmland Trust. Northeastern Farmland Update Newsletter of the American Farmland Trust 4(3) (1993). North Hampton, Mass.: American Farmland Trust.Google Scholar
Chiang, A.C. Fundamental Methods of Mathematical Economics. 2nd edition. New York: McGraw-Hill, 1974.Google Scholar
Chiang, A.C. Elements of Dynamic Optimization. New York: McGraw-Hill, 1992.Google Scholar
Derr, D.A., and Small, L.E. “Easement Purchases and Landowners' Expectations.” Journal of the American Society of Farm Managers and Rural Appraisers 47(2) (1983): 45–48.Google Scholar
Hotelling, H. “The Economics of Exhaustible Resources.” Journal of Political Economy 39 (1931): 137–75.CrossRefGoogle Scholar
Judge, G.G., Hill, R.C., Griffiths, W.E., Lütkepohl, H., and Lee, T.-C. Introduction to the Theory and Practice of Econometrics. New York: Wiley, 1984.Google Scholar
Lockeretz, W. “Secondary Effects on Midwestern Agriculture of Metropolitan Development and Decreases in Farmland.” Land Economics 65(3) (1989): 205–16.CrossRefGoogle Scholar
Lockeretz, W., ed. Sustaining Agriculture near Cities. Ankeny, Iowa: Soil and Water Conservation Society, 1987.Google Scholar
Lopez, R., Adelaja, A., and Andrews, M. “The Effects of Suburbanization on Agriculture.” American Journal of Agricultural Economics 70(2) (1988): 346–58.CrossRefGoogle Scholar
Lopez, R., Shah, F., and Altobello, M. “Amenity Benefits and the Optimal Allocation of Land.” Land Economics 70(1) (1994): 53–62.CrossRefGoogle Scholar
Nelson, A.C. “Preserving Prime Farmland in the Face of Urbanization—Lessons from Oregon.” Journal of the American Planning Association 58(4) (1992): 467–88.CrossRefGoogle Scholar
New Jersey Department of Environmental Protection. The Commonwealth of New Jersey Outdoor Recreation Resources Plan Summary. Green Acres Program. Trenton, 1989.Google Scholar
U.S. Department of Agriculture. Economic Indicators of the Farming Sector: State Financial Summary. Washington, D.C.: Government Printing Office, 1991.Google Scholar
U.S. Department of Agriculture. Agricultural Statistics. Washington, D.C.: Government Printing Office, 1951–91.Google Scholar
U.S. Department of Commerce, Bureau of the Census. 1987 Census of Agriculture. Volume 1. Geographic Area Series, Part 30. New Jersey State and County Data. Washington, D.C., 1989.Google Scholar
U.S. Department of Commerce, Bureau of the Census. 1992 Census of Agriculture. Volume 1. Geographic Area Series, Part 30. New Jersey State and County Data. Washington, D.C., 1994.Google Scholar
U.S. General Accounting Office. Clean Water Act: Private Property Takings Claims as a Result of the Section 404 Program. U.S. General Accounting Office, Resources, Community, and Economic Development Division. GAO/RCED-93-176FS. Washington, D.C.: Government Printing Office, 1993.Google Scholar