Land values: impact of land irrigability
1978
Schoney, R.A.
Extract: The imputed value to irrigability was estimated based on the discounted net cash flows over a 25 year planning horizon with corn production. The imputed values were estimated for three variables: field shape and size, added productivity and discount rates. Investment requirements were based on Wisconsin conditions and estimated for three systems: a full-size center pivot, a towable center pivot and a traveling gun. Investment requirements ranged from $391 per acre to $482. Based on a 9 percent discount rate, a full-size center pivot and an 85 bushel yield increase, the present value of irrigability was $449 per acre. Field shape and size, productivity increases and discount rates, in that order, were very important in determining the value of irrigability.
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