Report: Value of Kansas farm land, buildings down in 2016

WICHITA, Kan. (AP) A new government report shows the value of land and buildings on Kansas farms fell 7 percent last year.

The National Agricultural Statistics Service said Friday farm real estate value in 2016 averaged $1,880 per acre. That is down $150 per acre compared to the previous year.

Cropland values fell 7 percent to $2,050 per acre. Cropland with irrigation averaged $3,000 an acre, down $270 per acre. Cropland without irrigation averaged $1,940, down $150 an acre.

Pastureland was valued at $1,290 per acre, down $100 per acre.

The agency said cash rents paid to landlords for cropland was mixed with irrigated land up to $129 an acre, while dryland cropland was down to $56 per acre. Pasture rented for cash was down to an average $19 an acre.

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