Farmland Appraisals: Why They Matter

12 May Farmland Appraisals: Why They Matter

Farmland Appraisals: Why They Matter

As a farmland owner, you likely know that your land is a valuable asset. However, to truly understand its worth and make informed decisions about its management, you need to have an accurate appraisal. In this blog post, we’ll discuss why farmland appraisals matter and how to get one.

Why Farmland Appraisals Matter

There are several reasons why farmland appraisals are important:

1. Buying or Selling Farmland: If you plan to buy or sell farmland, you need to know its true value. An appraisal can help you determine a fair price and negotiate with confidence.
2. Estate Planning: If you’re planning your estate, an appraisal can help you determine the value of your farmland and plan accordingly. These types of appraisals can also assist with valuing a farm when it changes hands within your family at the time of inheritance.
3. Property Taxes: Many states use the value of farmland to determine property taxes. An accurate appraisal can ensure that you’re not paying more than you should.
4. Financing: If you plan to finance your farmland, your lender may require an appraisal.

How to Get a Farmland Appraisal

Getting a farmland appraisal is a straightforward process. Here are the steps you need to take:

1. Find an Appraiser: Look no further. We are qualified appraisers who specialize in farmland and the agriculture industry.
2. Project Proposal: Be ready to tell us a bit about your farmland and your appraisal report goals and we will provide you with a project proposal and the timeline to complete that report for you.
3. Inspection: Once the proposal is reviewed and accepted, we will need to visit your property to inspect it and gather information. At this point, our appraiser will ask for relevant information about your property, such as crop yields and any improvements you’ve made. We will then get to work on your appraisal report!
4. Receive the Appraisal: After our appraiser has completed their inspection and analysis, we will provide you with a written report that includes our opinion of your land’s value based on the valuation date and the additional information provided.

In conclusion, farmland appraisals are an essential tool for any farmland owner. They provide an accurate assessment of your land’s value, which can help you make informed decisions about its management, financing, and sale.

When you need a farmland appraisal, we are here to help! For more information on our services or if you want to chat, please feel free to stop in the office or reach out to Nicole at (631) 905-2074 or nicole@roosterag.com