Rural Land Values in the Southwest: Second Half, 1997 Page: 7
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Appendix A
Summary by StateGuide to Using Tables
The tables included in this analysis contain
estimated values and trends reported by
informed observers of the Arizona, New
Mexico, Oklahoma and Texas land markets.
Panelists were chosen both for their knowledge
of local markets and their willingness to
contribute information. Consequently, sample
sizes are limited and do not allow statistical
testing.
Readers should use the statistics from the
tables as an indicator of general current market
conditions as opposed to long-run values or
trends. The reported values reflect current
transactions in local markets. Therefore, the
kinds of land could vary from one period to the
next. Further, the statistics reflect panelists
estimates of the "typical" property in each
category. Because of these factors, readers
should not regard the reported statistics as an
indicator of the current market value for any
particular farm or ranch.
Each table contains median responses for the
state or region indicated in the title. The
median is the middle price in a ranked list of
prices. Because medians are not unduly influ-
enced by extremely high or low prices (outli-
ers), the median provides a more stable indica-
tor for typical properties when numbers of
respondents are small. When panelists do not
provide estimates, tables are omitted.
Table Composition
Each table in the report contains the same
basic information. When panelists do not
provide information for an item, a hyphen or
minus sign (-) appears. Otherwise, the num-
bers represent the median reported by all of
the panelists. Table elements are as follows:
Location and Date. The title line of each
table identifies the geographic location for the
table data. State titles simply contain the state
name and date of the survey. However, titles
for individual land market area reports identify
the state, land market area, date plus a list of
counties comprising the land market area.
Land Categories. Tables list each type of
land contained in the study under the columntitled Rural Land. The categories reflect
generic labels that refer to frequently encoun-
tered land uses. Because local conditions affect
the technological requirements for specific land
uses, types of land included in the categories
may vary from one location to another. For
example, if most irrigated land in an area
included a functioning pump and well, the
value of the well would most likely be included
in the price per acre for that region. If the
majority of local land sales included water
rights but no wells or pumps, the quoted price
would not include the value of such equip-
ment. Readers should take care to identify
local customs applying to their envisioned land
use to fully understand the reported statistics.
Land categories include the following:
Irrigated cropland. This category encom-
passes land dedicated to raising crops
with the typical local irrigation regimen.
It reflects land value with or without
considering irrigation equipment, as local
custom dictates. Equipment, such as
center pivot systems, is frequently sold
separately.
Nonirrigated cropland. This category
includes land dedicated to row-crop
agriculture without irrigation. Reported
values should include the typical value of
land without improvements.
Improved pasture. Improved pasture
refers to land used to produce forage for
livestock and game. Improved pastures
have been altered from their natural state.
Improvements include such items as
leveling, planting nonnative grasses or
terracing. The character of this category
can vary greatly from one location to
another.
Native rangeland. Native rangeland
encompasses lands that remain substan-
tially in their natural state. These lands
frequently consist of rough canyons and
mountains where livestock grazing and
hunting provide the greatest share of the
return. Native range requires few inputs,
depending on natural processes for the
forage produced.7
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Gilliland, Charles E. & Semien, Anthony. Rural Land Values in the Southwest: Second Half, 1997, report, July 1998; College Station, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1586957/m1/11/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.