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dc.contributor.authorTorell, L. A.
dc.contributor.authorKincaid, M. E.
dc.date.accessioned2020-09-23T18:08:02Z
dc.date.available2020-09-23T18:08:02Z
dc.date.issued1996-05-01
dc.identifier.citationTorell, L. A., & Kincaid, M. E. (1996). Public land policy and the market value of New Mexico ranches, 1979-94. Journal of Range Management, 49(3), 270-276.
dc.identifier.issn0022-409X
dc.identifier.doi10.2307/4002890
dc.identifier.urihttp://hdl.handle.net/10150/644305
dc.description.abstractProposals outlined in Rangeland Reform '94 have been perceived to greatly alter grazing use on public lands. In addition to new rules and regulations, the grazing fee would double under this reform proposal. The debate about these controversial policies would be expected to affect the market value of public kind grazing permits. Regression models were developed using over 700 ranch sales to determine recent trends in market value for New Mexico ranches, including public land ranches. After 1988, nominal deeded ranch values were found to have increased by 3% per annum, but remained unchanged in 1992 constant dollars. This follows a 50% decline in real value from 1982-88. Ranches heavily dependent on Bureau of Land Management (BLM) land for grazing capacity decreased in real value by about 1.8% per annum over the 1988-94 study period. The United States Forest Service (USFS) has recently had the most controversial land use polices and the highest average total grazing costs. This has been reflected in the market value of USFS ranches, with a continued decrease in permit value; USFS ranches in New Mexico have lost 75% of their real value since 1982. Doubling grazing fees on New Mexico state trust lands contributed to a downward trend in leasehold value. Somewhat surprising, given the higher grazing fee on state trust lands, these permits increased in market value in both real (1.7% per year) and nominal (5% per year) terms after controversy about state lands subsided and federal land policies became more controversial.
dc.language.isoen
dc.publisherSociety for Range Management
dc.relation.urlhttps://rangelands.org/
dc.rightsCopyright © Society for Range Management.
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectgrazing permits
dc.subjectland policy
dc.subjectgrazing tenancy
dc.subjecteconometric models
dc.subjectpublic domain
dc.subjectland values
dc.subjectranching
dc.subjectrange management
dc.subjectNew Mexico
dc.titlePublic land policy and the market value of New Mexico ranches, 1979-94
dc.typetext
dc.typeArticle
dc.identifier.journalJournal of Range Management
dc.description.collectioninformationThe Journal of Range Management archives are made available by the Society for Range Management and the University of Arizona Libraries. Contact lbry-journals@email.arizona.edu for further information.
dc.eprint.versionFinal published version
dc.description.admin-noteMigrated from OJS platform August 2020
dc.source.volume49
dc.source.issue3
dc.source.beginpage270-276
refterms.dateFOA2020-09-23T18:08:02Z


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