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Capitalization of Hunting Lease Income into Northern Mississippi Forestland Values

Capitalization of Hunting Lease Income into Northern Mississippi Forestland Values Abstract: Hunting leases are impacting rural land values. Using land sales transactions in northern Mississippi, this study quantified how hunting lease income affects forestland value, while controlling for sale attributes, county attributes, and ecosystem differences. Estimation procedures included traditional as well as spatial econometric modeling. A dollar increase in per acre hunting lease rate was associated with a 0.80% increase in per acre forestland value. Hunting lease income was capitalized into forestland value at a 7.55% rate. These findings should be helpful to forest landowners, appraisers, buyers, and government officials in land valuation and natural resource management issues. ( JEL Q24, Q26 ) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Capitalization of Hunting Lease Income into Northern Mississippi Forestland Values

Land Economics , Volume 89 (1) – Dec 29, 2013

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325
Publisher site
See Article on Publisher Site

Abstract

Abstract: Hunting leases are impacting rural land values. Using land sales transactions in northern Mississippi, this study quantified how hunting lease income affects forestland value, while controlling for sale attributes, county attributes, and ecosystem differences. Estimation procedures included traditional as well as spatial econometric modeling. A dollar increase in per acre hunting lease rate was associated with a 0.80% increase in per acre forestland value. Hunting lease income was capitalized into forestland value at a 7.55% rate. These findings should be helpful to forest landowners, appraisers, buyers, and government officials in land valuation and natural resource management issues. ( JEL Q24, Q26 )

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Dec 29, 2013

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