Posted by kyhayman on January 18, 2009 at 16:11:28 from (75.104.128.59):
In Reply to: land prices posted by jayinny on January 18, 2009 at 15:05:51:
In this part of Kentucky it all depends on the county. I farm in two counties and own property in two others. In the county with the most development pressure, we are way over built and land values have taken a hit. I've got a tract that I bought in 2004 to develop, gave 7200 an acre for it and its probably worth 6000 now. Larger tract hay and cattle farms are bringing in the 5's to 6000 an acre. Here where I live, my tax bill is 2200 a year for 186 acres with the house. Most of thats on the house. The other farm is in the next county south. Good farm land there is bringing 3800-4200 an acre. Taxes there on 300 acres are 1200 based on an ag value of 120,000.
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