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- Title
The Market Value of Water in the Ogallala Aquifer.
- Authors
Torell, L. Allen; Libbin, James D.; Miller, Michael D.
- Abstract
The value of water is a significant part of irrigated farmland transaction prices observed in the marketplace. Using a comprehensive data set of farm sales in New Mexico, Oklahoma, Colorado, Kansas, and Nebraska, the value of water was estimated as the price differential between irrigated and dryland farm sales. Results indicate the water value component of irrigated farm sale transactions ranged from 30 to 60 per-cent of the farm sale price, depending on state. The value of water in the Ogallala Aquifer has fallen. Market values have declined by 30 to 60 percent, following the recent downward trends in land values. Water value estimates range from a high of about $9.50/acre-foot in New Mexico in 1983 to a low of $1.09/acre-foot in Oklahoma in 1986.
- Subjects
GREAT Plains; WATER; MARKET value; OGALLALA Aquifer; AQUIFERS; VALUATION of farms; ECONOMIC trends
- Publication
Land Economics, 1990, Vol 66, Issue 2, p163
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3146366