Capitalization of Hunting Lease Income into Northern Mississippi Forestland Values

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 traditio...

Full description

Saved in:
Bibliographic Details
Published in:Land economics 2013-02, Vol.89 (1), p.137-153
Main Authors: Hussain, Anwar, Munn, Ian A., Brashier, Jerry, Jones, W. Daryl, Henderson, James E.
Format: Article
Language:English
Subjects:
Econometrics
Economic theory
Ecosystems
Forests
Hunting
Income
Land
Land economics
Land values
Landowners
Leases
Mississippi
Natural resources
Property values
Real estate
Resource management
Sales
Studies
U.S.A
Valuation
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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.
ISSN:0023-7639
1543-8325
DOI:10.3368/le.89.1.137