Swift County’s farmland value has increased
by Reed Anfinson, Editor
Swift County’s farmland value increased by over $500 million in just one year – half a billion dollars.
For 2013, the county’s ag land was valued at $2.188 billion, up from $1.688 billion in 2012 – a jump of nearly 30 percent.
With commodity prices up substantially, and with a strong belief among investors and farmers that those prices will stay up, farmland prices have skyrocketed across Swift County’s townships over the past year.
The rapid land price increase has also been spurred by farmers with plenty of cash for payments and low interest rates.
Dublin Township has the highest market value of the county’s 21 townships. It saw its value increase by 30 percent, $39.3 million, and now sits at $169.8 million. That value includes its homes and other buildings.
Dublin Township also saw a record price paid for an acre of land this past March. A 147.3-acre parcel sold for $1.434 million or $9,710 an acre.
The township’s ag land now has an average assessed value of $7,043, up $1,702 an acre or 32 percent, from last year.
Torning Township, which encompasses most of the City of Benson, was second in total market value at $157.2 million, up $33.1 million from last year – a 35 percent increase in value.
Torning’s average assessed acre value increased 35 percent from $4,775 to $6,444, an increase of $1,669 per acre.
Overall, Swift County’s 21 townships averaged an increase in value of 28 percent in the past year.
Photo: Swift County farmland value has jumped nearly 30 percent.
- Large city roads project gets underway in May
- Benson’s assessed value increases by nearly $1.5 million
- They’re back . . . BHS choir students return from 6-day trip to New York City
- A mild winter means ice goes off Minnesota’s lakes early
- More options made available to buffer strip state requirements