State Water Resources Research Institute Program
Project ID: 2007NE152B
Title: Improving Estimates of the Value of Irrigated Land in the Republican Watershed
Project Type: Research
Start Date: 3/01/2007
End Date: 2/29/2008
Congressional District: 2
Focus Categories: Irrigation, Economics
Keywords: Land values, irrigation, hedonic modelling
Principal Investigators: Shultz, Steven; Sindt, Roger
Federal Funds: $ 12,791
Non-Federal Matching Funds: $ 26,398
Abstract: This research will improve and refine recent estimates of the value of irrigation (and the likely costs of retiring irrigation rights) in the Republican Watershed based on multiple-regression modeling of agricultural land sales. Reported irrigation equipment values included with sales and estimated irrigation pumping potential on sold land will be verified, and year 2006 sales will be incorporated into the analyses. The research will involve student training and lead to a larger proposal to replicate the research in the Platte River Watershed.
First, year 2006 sales (approximately 200 sales), will incorporated into the modeling of irrigation values in the Republican Watershed in order to account for rapidly changing conditions in the watershed with regards to surface and groundwater supplies, and allowable levels of irrigation.
Second, a survey of a random selection of recent buyers and/or sellers of irrigated land in the Republican Watershed (n= 300) will be administered in order to:
Finally, the impact of revised and updated irrigation equipment and well capacity data on previous estimates of the value of irrigation by re-estimating hedonic multiple regression models and evaluating the new results.
Progress/Completion Report, PDF